• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 1 hour Would bashing China solve all the problems of the United States
  • 4 hours Let’s Try This....
  • 3 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 4 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 2 hours 60 mph electric mopeds
  • 2 hours Pompeo's Hong Kong
  • 3 hours New Aussie "big batteries"
  • 7 hours China to Impose Dictatorship on Hong Kong
  • 21 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 4 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 3 hours Oil Markets Could Soon Face A Devastating Supply Crunch
  • 17 hours Backlash Against Chinese
  • 2 days Iran's first oil tanker has arrived near Venezuela
5 Points To Consider Before Buying Oil Stocks In 2020

5 Points To Consider Before Buying Oil Stocks In 2020

For contrarian investors, there may…

Europe’s Gas Glut Could Hit Global LNG Market Hard

Europe’s Gas Glut Could Hit Global LNG Market Hard

Although LNG flows into Europe…

IEA: These Minerals Are Essential For The Energy Transition

The COVID-19 pandemic has highlighted the vulnerability of global supply chains, including those of critical minerals essential for a number of clean energy technologies, while the world needs reliable supplies of lithium, cobalt, nickel, copper, platinum, and rare earths, the International Energy Agency (IEA) said in an analysis this week.  

The pandemic and the unprecedented lockdowns in many countries around the world have led to significant declines in the mining activities of critical minerals. Copper mining in Peru—accounting for 12 percent of global copper production—ground to a halt in the lockdown, while platinum production in South Africa was also disrupted. The lockdown in South Africa disrupted much as 75 percent of global platinum production, the IEA said.

“Although prices for many important minerals have fallen as global demand has slumped, recent developments have highlighted a number of reasons why the world should not take secure supplies for granted,” the Paris-based agency said.

The COVID-19 pandemic “has underscored the need to monitor the security of minerals supply for a clean energy future,” the IEA noted.

Demand for critical minerals is expected to boom in the coming years due to the increase of clean energy technologies and solutions, according to the agency.  

Earlier this month, the IEA said in an analysis that batteries and hydrogen-producing electrolyzers are two of the most important technologies as the world moves to a clean energy future.

“And support for battery and electrolyser manufacturing is also a strategic opportunity for governments to ensure that their industries come out of the Covid-19 crisis stronger than before, ready to supply future domestic and international growth markets and able to anticipate potential bottlenecks in technologies,” the IEA said. 

“Lithium-ion batteries & hydrogen electrolysers are ready for the BIG time. They have many things in common & are well suited to mass manufacturing. Putting them in recovery plans can push their costs down & make them cornerstones of modern energy systems,” the IEA’s Executive Director Fatih Birol said on Sunday.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • Maxander on May 07 2020 said:
    We wont be needing Lithium & other battery materials that IEA sighted here for long as Hydrogen based fuel cell batteries are better placed to do the job of Lithium batteries.
    Looks like IEA is concerned if Lithium battery plants get closed down when people get access to the finer material & technology of Hydrogen powered fuel cells.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News