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The International Energy Agency’s (IEA) latest piece on the minerals critical to the energy transition gives a rather pessimistic spin on what was some very positive data. Looked at from a wider perspective, the note provides another useful source of analytical support for the energy transition.
The IEA looked into the amount of minerals needed to fuel the energy transition, and pretty quickly worked out “there is no shortage of resources”. The world has plenty of lithium, nickel, rare earth metals and so on. This is what the US Geological survey has been saying for a while, and fits with the work done by the Energy Transitions Commission on mineral availability.
The IEA notes, for example, that we have 170 times as much lithium reserves as annual demand, and that our lithium reserves have increased by 42% over the las…