Critical minerals drive global technological development

The development of modern technology relies heavily on the availability of specific minerals essential for advanced hardware and systems. These materials are critical for sectors including electric vehicles, renewable energy grids, robotics, defense systems, and aerospace technology.

Copper is identified as a vital component for electrical conductors, transformers, motors, and data centers. The International Energy Agency (IEA) forecasts that demand for copper will increase by approximately 7 million tons by 2040. Current projections suggest the world could face a 25 percent supply deficit by 2035 due to the long lead times required for mining permits and construction, as well as declining ore grades.

Other essential minerals include lithium, which is fundamental for energy storage in smartphones, laptops, drones, and electric vehicle batteries.