Not many people know that
By Paul Homewood
Only a trillion or two left!
Despite the increase in metal supply over the past decade, BloombergNEF's (BNEF) annual Transition Metals Outlook concludes that there are still not enough raw materials to meet growing demand. This supply shortage could slow the adoption of clean energy technologies. To meet the demands of a net-zero emissions world, BNEF estimates that $2.1 trillion in new mining investment will be required by 2050.
The report suggests that key energy transition metals such as aluminum, copper and lithium could face primary supply shortfalls this decade – some as early as this year. According to BNEF's Economic Transition Scenario (ETS) – which is based on the cost competitiveness of technologies and does not require new policy support – the world could need 3 billion tonnes of metals between 2024 and 2050 to support low-carbon solutions such as electric vehicles, wind turbines and electrolysers. This number rises to 6 billion tonnes to reach net zero in 2050.
Kwasi Ampofo, head of metals and mining at BNEF and lead author of the report, said: “The persistent deficit in these metals will lead to higher commodity prices, increasing the cost of clean energy technologies.” High costs could slow their adoption and the overall energy transition. “
https://about.bnef.com/blog/mining-industry-needs-2-1-trillion-dollars-in-new-investment-by-2050-to-meet-net-zero-demand-for-raw- Materials-finds-bloombergnef-in-new-report/?tactic=925520&pchash=
Like this:
Load…
