Africa's Transition Minerals Key to Global Clean Energy Future
A new UN report highlights the importance of responsible governance in the extraction of transition minerals in Africa, warning that the rush for these minerals risks environmental harm, social disruption, and lost economic opportunity.
The report, released by the UN Environment Programme's International Resource Panel, notes that mineral extraction accounts for half of all global raw-material use, up from 31% in 1970.
- Demand for critical energy transition minerals, such as those used in solar panels, wind turbines, and batteries, is expected to continue to soar.
- In 2023, demand for these materials rose between 8% and 15%.
- By 2050, lithium demand could reach nine times its 2022 levels.
The world's financial systems, governance, and regulation of mineral exploration and mining must be reformed to direct more capital flows and a clean energy transition.
Author's summary: The UN report emphasizes the need for responsible governance in mineral extraction to ensure a clean energy future.