The world’s total demand for minerals necessary for the...

The world’s total demand for minerals necessary for the development of clean energy technologies is forecast to double or even quadruple by 2040 (IEA 2021).By 2030 EVs will represent more than 60 per cent of vehicles sold globally (IEA 2022b). Demand for battery minerals, such as lithium, is forecast to increase by 40 times 2020 levels by 2040, while demand for cobalt and graphite could rise by approximately 20 times. Demand for rare earth elements could increase by seven times in the same period (IEA 2021). More mining is required to meet this demand. Recent analysis by the IEA suggests the world will need around 50 new lithium mines, 60 new nickel mines and 17 new cobalt mines to meet carbon emissions goals by 2030 (IEA 2022a). QUOTE Future looking strong IMO

https://www.industry.gov.au/publications/critical-minerals-strategy-2023-2030/operating-environment#:~:text=Demand%20for%20rare%20earth%20elements,by%202030%20(IEA%202022a).