The term ‘green minerals’ refers to the minerals that are critical for the transition to a low-carbon, sustainable energy economy. These minerals include lithium, cobalt, nickel, and others, which are essential components of electric vehicle (EV) batteries, solar panels, wind turbines, and other renewable energy technologies. In recent years, there has been a growing concern about a potential shortage of green minerals, which is driving up prices and slowing down the transition to a green energy economy. However, this concern is largely based on misconceptions and misinformation. In this blog, we will debunk the myth of the green mineral shortage and explain why we have more than enough to meet our needs.
Myth 1: Green minerals are rare
One of the biggest misconceptions about green minerals is that they are rare and hard to find. However, this is not the case. Green minerals are widely distributed and abundant in the earth’s crust. For example, lithium, which is used in EV batteries, is the lightest metal and the 33rd most abundant element in the earth’s crust. Similarly, cobalt, nickel, and other green minerals are also abundant. What makes these minerals rare is the difficulty in extracting them from the earth’s crust, which requires advanced mining technologies and expertise.
Myth 2: Green mineral reserves are running out
Another myth is that the reserves of green minerals are running out and that we will soon face a shortage. However, this is not true. The reserves of green minerals are increasing, not decreasing. In fact, new discoveries of green mineral deposits are being made all the time, and existing reserves are being expanded. For example, the lithium reserves have increased by almost 50% over the past decade, and new reserves are being discovered in countries such as Australia, Argentina, and Chile.
Myth 3: Green minerals are only found in a few countries
It is also widely believed that green minerals are only found in a few countries and that the dependence on these countries is a risk to the supply chain. However, this is not the case. Green minerals are widely distributed across the world and can be found in many countries, including Australia, China, the Democratic Republic of Congo, and others. This diversity of supply sources helps to mitigate the risk of supply chain disruptions.
Myth 4: The demand for green minerals will soon outstrip supply
Another myth is that the demand for green minerals will soon outstrip supply, leading to a shortage and price spikes. However, this is not the case. The demand for green minerals is growing, but the supply is also growing. The mining industry is investing heavily in new mining technologies and processes to extract these minerals more efficiently, and new deposits are being discovered all the time. In addition, recycling is becoming increasingly important as a source of green minerals. For example, the recycling of EV batteries can provide a significant source of lithium, cobalt, and nickel.
In conclusion, the myth of the green mineral shortage is just that – a myth. We have more than enough green minerals to meet our needs for the transition to a low-carbon, sustainable energy economy. The abundance of green minerals, the increasing reserves, the diversity of supply sources, and the growth in recycling will all help to ensure that we have a secure and sustainable supply of these critical minerals for years to come.
