not many people know
Paul Homewood
Another trillion or two!
Although metal supply has grown over the past decade, Bloomberg New Energy Finance's (BNEF) annual Transition Metals Outlook finds that there are still not enough raw materials to meet growing demand. This supply squeeze could slow the adoption of clean energy technologies. To meet the needs of a net-zero emissions world, BNEF estimates that $2.1 trillion in new mining investment will be needed by 2050.
The report indicates that key energy transition metals such as aluminum, copper and lithium could face deficits in primary supply this decade – some as soon as this year. According to BNEF’s Economic Transition Scenario (ETS), which is driven by technology cost competitiveness and assumes no New policy support), the world may need 3 billion tonnes of metal between 2024 and 2050 to properly build low-carbon solutions such as electric vehicles, wind turbines and electrolytes. That number rises to 6 billion tons to reach net zero in 2050.
Kwasi Ampofo, head of metals and mining at BNEF and lead author of the report, said: “Long-term deficits in these metals will lead to higher prices for raw materials, which increases the cost of clean energy technologies. High costs could slow their adoption and energy as a whole. Transformation”.
https://about.bnef.com/blog/mining-industry-needs-2-1-trillion-dollars-in-new-investment-by-2050-to-meet-net-zero-demand-for-raw- material-finds-bloombergnef-in-new-report/?tactics=925520&pchash=
Relevant
