Demand for minerals to power technology could triple by 2030, UN political chief says
BNN Bloomberg
Demand for critical minerals that power technology from smartphones to missiles could triple by 2030 and quadruple by 2040, the United Nations political chief told the UN Security Council on Thursday.
“A decade ago, minerals such as lithium, cobalt and nickel had limited strategic importance,” Undersecretary-General Rosemary DiCarlo said. “Today, they underpin the technologies powering the digital economy and the energy transition.”
She spoke at a signature event chosen by the United States, which holds the Security Council presidency this month, entitled “Energy, Critical Minerals and Security.”
Calling critical minerals one of the main drivers of the 21st century economy, DiCarlo said that in 2023, trade in raw and semi-processed minerals reached approximately US$2.5 trillion.
“This represents more than 10 per cent of global trade,” she said. “Demand could triple by 2030 and quadruple by 2040.” Her office said the figures and projection were from UN reports in 2025.
U.S. Energy Secretary Chris Wright, who chaired the meeting, said it is in the security interest of the U.S. and its allies not to be overly dependent on any single country “for materials critical to our economies and national security.”
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