the West wants to escape the Chinese trap

A lithium mine in Catamarca, Argentina. ULAN/Pool/Latin America News Agency via Reuters Connect

DECRYPTION – Forty countries are studying alternatives to Chinese hegemony.

Get on board quickly or you will miss the boat», Proclaims Madeleine King, Australian Minister for Resources. “If European investors delay, they will not secure their supplies», she explains to Figaro on the occasion of his trip to Paris for the first summit dedicated to “critical metals”organized Thursday by the International Energy Agency (IEA).

Brutal, the warning nevertheless sums up the situation well. The global race for critical metals, lithium, nickel, cobalt, rare earths, graphite and copper, is accelerating. Nearly fifty minerals are essential to ensure the energy transition. They are not all rare but their production risks being insufficient while needs are exploding.

A crucial supply

The global fleet of electric vehicles will increase tenfold by 2030 and will reach 250 million units, predicts the IEA. The energy transition minerals market has already doubled in five years, to $320 billion in…

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