Book Description

Critical minerals play a vital role in the ongoing energy transition, which aims to shift global energy systems towards more sustainable and low-carbon alternatives. These minerals, also known as critical minerals, are essential components in various clean energy technologies such as wind turbines, solar panels, electric vehicles, and energy storage systems. They possess unique properties that enable efficient energy generation, storage, and transmission. For instance, neodymium, a rare earth element, is crucial for the production of high-performance magnets used in wind turbines and electric motors. Lithium, another critical mineral, is a key component in rechargeable batteries powering electric vehicles and energy storage solutions. As the demand for clean energy technologies continues to rise, securing a sustainable and reliable supply of critical minerals becomes increasingly important to support the global energy transition and reduce dependence on fossil fuels. In this book, we investigate various aspects of critical mineral governance in the context of sustainability transition. We give perspectives around the critical metal requirements of sustainability transition in a forward-looking manner. We discuss the answers to the following questions: What role do the critical raw materials play in the transition to a sustainable economy and energy systems transformation? What are the bottlenecks in achieving a sustainable critical material supply? How do the critical minerals enable renewable energy transition and sustainable development? What is their role in the sustainability transition? How is mineral criticality assessed? And how critical are minerals? What are some regional differences in terms of critical mineral availability, processing capacity, and the supply chain? What strategy should be followed in deciding between primary raw materials and secondary raw materials in supplying critical raw materials for the transition to a sustainable economy? What is the (known) critical material budget, and how does it fit with the climate pledges? The authors of the chapters of this book take a multi-perspective approach and provide insights from industrial ecology, environmental engineering, and sustainable management of natural resources. The information provided will help readers to understand critical metal requirements of present and future key technologies and will help societies to develop and implement sustainable supply strategies.