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Nations with Mineral Reserves needed for Energy Transition
Context:
The global energy system is currently dominated by fossil fuels, but the transition to a low-carbon economy will require a shift towards minerals essential for renewable technologies like solar, wind, nuclear power, and more.
Breakdown
- Bauxite: The primary source of aluminium, crucial for wind turbines, solar panels, batteries, electrolyzers, and transmission cables.
- Chromium: Essential for geothermal energy and concentrated solar power. It’s also used in wind turbines and for radiation shielding in nuclear plants.
- Cobalt: Vital for consumer electronics, metal alloys, and oil industry catalysts. It plays a critical role in many lithium-ion battery technologies.
- Copper: A critical component in solar panels, wind turbines, battery storage systems, and electricity grids.
- Graphite: A key element in battery anodes, making it important for electric vehicles and stationary batteries used to balance electricity grids.
- Lithium: A core material in lithium-ion batteries.
- Manganese: Widely used in solar and wind power technologies, as well as in lithium-ion batteries for electric vehicles.
- Molybdenum: Known for its high electrical conductivity and minimal expansion when exposed to heat.
- Nickel: A crucial component in the cathodes of lithium-ion batteries used in electric vehicles.
- Rare Earth Elements: Important for wind power, particularly in the production of permanent magnets.
- Silver: Plays a key role in solar photovoltaics and electric vehicles.
- Uranium: The primary fuel for nuclear energy production.
Each of these minerals is critical to the development of renewable energy technologies and will shape the future of the global energy supply. The availability of these mineral reserves across countries will influence the pace and structure of the energy transition.