Kinshasa to Influence Cobalt Prices Amidst Market Challenges, page-3

ConclusionThe global shift from a world run on fossil fuels, to one powered by renewable energies and electrification, means an even greater need for the minerals that go into these new technologies.The World Bank projects the need for a 500 percent increase in graphite, cobalt, and lithium production by 2050. In 2022, one estimate claimed that approximately 700 million metric tons of copper would be needed over the next 22 years to reach sustainable economic growth targets—roughly the equivalent to what has been mined over the past 5,000 years of human history. Still other projections find that more than 300 new mines extracting critical minerals will be needed by the year 2030 to prevent a crippling supply shortage… QUOTE The market will be robust in the longterm IMO

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