Energy systems and economies will be mineral-intensive

Significance

Exploration, substitution and component minimisation will adapt supply to demand over time, but new supply chain risks will emerge, owing to narrow supply bases and long lead times between discovery and production.

Impacts

• The mining sector is likely to attract increasing financial flows.
• Competition for resources will rise, especially in developing countries, and some resources may be subject to conflict.
• Governments may expand the volume and range of critical mineral stockpiles, which could heighten short-term price volatility and demand.
• Companies' use of conflict resources or minerals sourced from artisanal mining will carry significant reputational risk.