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The world is facing an unprecedented transformation, and these things may be the most needed

Infrastructure investments and energy transition

In recent months, there have been a number of announcements around the world indicating that the energy transition could accelerate, with many governments and groups realizing the need to move faster in reducing carbon dioxide emissions if we are to avoid a climate catastrophe.

  • Joe Biden, for example, will spend $ 2,000 billion over eight years upgrading the infrastructure, Which includes transportation, utilities, broadband internet and manufacturing. Energy conversion also plays an important role in the program, among other things The goal is to build 500,000 electric vehicle charging stations by 2030 And the replacement of 50,000 public transport vehicles powered by conventional energy. In addition, the clean energy sources will be extended for a period of 10 years (For example wind and solar energyIt would spend tax breaks and $ 100 billion on developing the electricity infrastructure to enable the United States to achieve carbon neutrality by 2050. Of course, you still have to move this through the legislature.
  • Plus, of course, Europe will be climate neutral by 2050, and China will put the same to its flag by 2060. For example, the European Union will mobilize at least a trillion euros over the next decade to decarbonize. Which also includes electricity generation and transportation (For example electric cars, hydrogen propulsion, battery technology). In China, the 14-year draft plan would increase the share of non-fossil energy sources in the power generation mix to 20 percent from the current 15.8 percent, and would also significantly reduce carbon dioxide emissions. This is important because the country is the largest carbon exporter in the world, and is responsible for nearly 30 percent of global emissions.
  • The International Energy Agency (IEA) estimates that between 2020 and 2030, installed solar PV capacity could expand by 13 percent annually and cover a third of the growth in electricity demand. Wind power also faces dynamic expansion in the coming years, particularly for offshore wind farms, and the International Energy Agency estimates By 2030, there could be as many as 140 million electric cars on the roads, 245 million in the optimistic case.
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Source: IEA – Global EV Outlook 2020

Overall, these are terribly high numbers, but relatively little can be heard – at the moment – about the resource requirements it imposes on the world’s mining industry and what raw materials will play a critical role in these long decades of energy transition. This is because producing millions of solar cells, wind turbines and electric vehicle batteries requires a lot of raw materials, and in some cases multiples of current production.

There will be significantly higher demand for some raw materials

World Bank is detailed 2020 In his studies He identified a number of raw materials that could play a particularly important role in the energy transition in the coming decades, including those needed for battery technology and renewable energy infrastructure development (For example solar panels, wind farm). The table below shows the areas in which the organization has attempted to estimate future resource needs.

What is the article talking about?

  • Focus on energy transition
  • These raw materials will be needed
  • Technological risks
  • Overview of the main raw materials