Critical minerals market concentration could jeopardise energy transition
The average market share of the top three critical minerals producers rose to 86% in 2024.
With the market share of top critical minerals producers creeping up year on year, the International Energy Agency (IEA) warns that supply chain disruptions could jeopardise energy security as the world transitions to net zero.
The IEA’s latest Global Critical Minerals Outlook finds that despite the fact that diversification is seen as key to energy security, the critical minerals market is becoming more concentrated. The average market share of the top three producers of copper, lithium, nickel, cobalt, graphite and rare earth elements rose to 86% in 2024 from around 82% in 2020.
