The text highlights the importance of metals and minerals in the clean economy transition, particularly for electric vehicles. The limited supply of these resources, coupled with the semiconductor shortage and supply chain disruptions, has led to increased initiatives focused on mining materials from existing products and waste streams. Companies across the metals value chain, including specialized recyclers and large mining corporations, are investing in projects aimed at recycling and recovering metals. Recycling and circular mining activities are expected to play a crucial role in meeting the future demand for metals, with potential for up to 40 percent of EV battery demand to be fulfilled through materials recovered from urban mining operations by 2040. These activities not only contribute to the sustainability of resource extraction but also offer environmental and social benefits by minimizing the impacts of new mine development and creating economic opportunities.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Rise in initiatives for “mining” recycled materials | Transition from virgin extraction to recycling | Increased use of recycled metals and minerals in clean technologies | Limited supply of critical metals and minerals |
| Growing investment in domestic battery supply chains | Shift towards domestic production | Increased domestic production of batteries and materials | Supply chain disruptions and semiconductor shortage |
| Importance of recycling and circular mining for metals | Increased focus on recycling and circular mining | Higher percentage of metals and minerals sourced from recycling | Growing demand for metals and minerals |
| Exploration of methods for extracting materials from waste | Development of methods for waste extraction | Increased extraction of metals and minerals from waste | Opportunities for economic development and job creation |
| Potential to minimize impacts of new mining and remediate old sites | Reduction of negative environmental and social impacts | Minimized damage to ecosystems and communities from mining | Environmental and social benefits |
| Challenges of recovering and processing materials safely | Ensuring safe and ethical collection and processing | Improved recovery and processing methods for circular mining | Ethical treatment and fair compensation of individuals involved |
| Progress in sectors with consumer scrutiny and ESG practices | Adoption of circular mining in industries with ESG focus | Higher demand for low carbon footprint materials | Consumer demand and willingness to pay a premium |
| Key players: Aurubis, Circular Electronics Partnership, Ford, Redwood Materials, Rio Tinto | Influential organizations in circular mining | Continued advancements in recycling and waste extraction | Innovation and investment from key industry players |