Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

Drop in mineral prices indicate lack in green energy investment: IEA

  • By Al Mayadeen English
  • Source: Agencies
  • 17 May 2024 09:55
4 Min Read

IEA's expectations of investment in critical minerals production and processing are widely below the requirements for the green energy transition.

  • x
  • Drop in mineral prices indicate lack in green energy investment: IEA
    Trucks come in a line to transport the extracted chromium ore to processing factories near Kaliapani village in Jajpur district, Odisha, India, on July 5, 2023. (AP) 

A sharp drop in mineral prices critical for green energy production is masking a looming shortage due to inadequate investment, the International Energy Agency (IEA) said on Friday. 

In its first review of the market for critical materials, the IEA pointed to the prices of key minerals used in the production of electric vehicles, wind turbines, and solar panels, saying that the prices fell back to pre-pandemic levels as supplies surpassed demand.

The Paris-based agency said it is concerned that the price drops will deter investment needed to meet the demands of the green energy transition. Demand is expected to take a sharp rise, as many governments work on phasing out internal combustion engines in favor of electric vehicles in the next decade.

As such, the IEA says that announced projects, concerned with the sourcing and production of minerals and metals, will only be able to meet 70% of copper and 50% of lithium requirements in 2035. The IEA based its estimates on a scenario in which all countries would meet their national climate goals for 2035.

"The world’s appetite for technologies such as solar panels, electric cars, and batteries is growing fast – but we cannot satisfy it without reliable and expanding supplies of critical minerals," IEA Executive Director Fatih Birol said in a statement.

Read more: Rare earth elements and their applications; why the global competition

China leads world's green energy transition 

Related News

Putin open to meeting Zelensky pending expert-level talks: Peskov

Pro-'Israel' Democrats breaking with Netanyahu amid Gaza war

To the disappointment of the United States-led Western world order, China leads the world's supplies of critical minerals, as its stockpiles include aluminum, antimony, cadmium, cobalt, copper, gallium, germanium, indium, molybdenum, rare earth elements, tantalum, tin, tungsten, zinc, and zirconium, all of which are essential in high-tech and green products. 

As detailed by the IEA, investment in "diversifying" the supply chain of minerals has been inadequate, with most of the world's supplies of essential minerals coming from China. The lack of investment has essentially tied the continuity of supplies to China-West relations, specifically China-US relations. In recent times, these relations have been shaky, putting supplies of critical minerals at risk of disruption. 

Earlier, the US State Department said that it is extremely important not to replace the era of dependence on Russian fossil fuels with one depending on Chinese critical minerals.

Read more: America's military highly dependent on China-controlled minerals

First Russia, now China: US works to maintain financial monopoly

In other words, the US implicitly warned European leaders against replacing Russian energy that ran its industries for several decades, with Chinese minerals.

At a conference hosted by CSIS, Assistant Secretary of State for Energy Resources Geoffrey Pyatt shed light on the "critical importance of continuing to work on the diversification of energy supplies," emphasizing that "in particular, we need to make sure that we don't replace an era of dependence on Russian fossil fuels with dependence on critical minerals and critical mineral processing in the People's Republic of China."

Pyatt claimed that China has an "overwhelming monopoly" over solar energy supply chains, stressing that the US should stop this from happening in emerging energy sectors like clean hydrogen, wind power, and electric vehicles. 

He moved on to label the EU as "an essential partner in this effort," as European countries are also aiming for a clean energy transition with billions of dollars of investment flowing both ways across the Atlantic. 

Read more: China leads global green energy transition, but not without challenges

  • United States
  • Green energy
  • IEA
  • China
  • Rare Earth Elements
  • critical minerals

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS