Supply of transition metals needs to grow
Transition metals risk supply crunch in 2030s
Underinvestment and lengthening lead times for mining projects are hampering supply growth needed to meet demand, Wood Mackenzie says
Underinvestment in the production of transition metals including lithium, nickel, cobalt and copper risks creating a severe supply crunch in the 2030s, according to consultancy Wood Mackenzie. “Certainly, we do not think there are enough committed projects in the pipeline to actually meet the demand laid out,” Robin Griffin, vice-president of metals and mining at Wood Mackenzie, told the recent Future Facing Mined Commodities Forum. “Investment needs to ramp up. We are looking at about $200bn of additional investment that would get us to where we need to be.” The $200bn cost estimate covers a scenario where global temperatures are 2.5-2.7°C above pre-industrial levels by 2050. A 1.5°C pathwa
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