The geopolitics of critical minerals with Minefield Consulting

Once a somewhat niche industry, critical minerals are now dominating headlines, influencing geopolitical trends and driving international trade. 

These materials are core components of technologies crucial to the energy transition and defence systems, and heightened interest in these areas is fuelling demand. For example, lithium demand jumped by 30% in 2024, while nickel, cobalt, graphite and rare earths all increased by 6-8% – and it is expected to keep climbing. 

With the International Energy Agency forecasting demand for these minerals to triple or even quadruple by 2040, the rush for critical minerals will continue shaping international relations, highlighting the need to address major environmental and social implications. 

In this week's episode, Giulia interviews Olimpia Pilch, critical minerals consultant at Minefield Consulting, on the complex world of critical minerals, their importance in energy transition and defence, and the geopolitical and environmental challenges involved. 

Their wide-ranging conversation covers:

• The definition of critical minerals
• Supply chain vulnerabilities and geopolitical risks
• China's role in critical mineral processing and supply
• What are the potential and limitations of critical mineral recycling
• The environmental and social implications of mineral extraction

While the Global North has outsourced polluting industries, including mining, for decades, it’s crucial to understand that clean technologies need these primary sources. Amid geopolitical tensions straining supply chains, achieving the energy transition may require a new world order.

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