UN has formed a panel specifically focused on critical energy transition minerals. These critical minerals are generally found in the underdeveloped nations, such as African nations. The heavy demand for these minerals is leading to emerging concerns of resource nationalism and environmental destruction.
Key Facts About the Panel on Critical Energy Transition Minerals
- The panel will address issues relating to equity, transparency, investment, sustainability, and human rights in the context of critical minerals for renewable energy technologies.
- Developing countries see critical minerals as an opportunity to create jobs, diversify economies, and boost revenues, but proper management is essential to avoid trampling over the poor.
- The panel’s objective is aligned with the 2030 Agenda for Sustainable Development, the United Nations Framework Agreement on Climate Change, and its Paris Agreement to harness the potential of critical minerals for shared prosperity and leaving no one behind.
- The panel utilises past UN efforts, especially the Working Group on Sustainable Extractive Industries and its ‘Harnessing Critical Energy Transition Minerals for Sustainable Development’ initiative.
- It will help to develop principles to ensure a fair and transparent approach globally and for local communities in the entire value chain — upholding the highest sustainability and human development standards.
- The goal of combating climate change and limiting global warming to 1.5°C hinges on a secure and accessible supply of critical energy transition minerals.
- These minerals, such as copper, lithium, nickel, cobalt, and rare earth elements, are essential components of clean energy technologies like wind turbines, solar panels, electric vehicles, and battery storage, which are crucial for powering a sustainable future.
Critical Minerals
- These are those minerals that are essential for economic development and national security, the lack of availability of these minerals or concentration of extraction or processing in a few geographical locations may lead to supply chain vulnerabilities and even disruption of supplies.
Declaration of Critical Minerals
- It is a dynamic process, and it can evolve over time as new technologies, market dynamics, and geopolitical considerations emerge.
- Different countries may have their own unique lists of critical minerals based on their specific circumstances and priorities.
- The US has declared 50 minerals critical in light of their role in national security or economic development.
- Japan has identified a set of 31 minerals as critical for its economy.
- The UK considers 18 minerals critical, EU (34) and Canada (31).
Critical Minerals for India
- Expert Committee under Ministry of Mines has identified a set of 30 critical minerals for India.
- These are Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, Rare Earth Elements (REEs), Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium and Cadmium.
- The creation of Centre of Excellence for Critical Minerals (CECM) in the Ministry of Mines is also recommended by the Committee.
- CECM will periodically update the list of critical minerals for India and notify the critical mineral strategy from time to time.
Key Critical Minerals and Their Applications
Lithium, Cobalt, and Nickel
- These minerals are indispensable components of lithium-ion batteries, widely utilized in electric vehicles, portable electronic devices, and energy storage systems.
Rare Earth Elements
- Consisting of 17 elements, REEs play pivotal roles in manufacturing high-strength magnets, electronics, wind turbines, and military equipment.
- Notably, neodymium and dysprosium are crucial for the production of permanent magnets used in motors.
Copper
- It holds significant importance in electrical wiring, renewable energy infrastructure, and electric vehicle components, owing to its remarkable electrical conductivity.
Titanium
- In the aerospace industry, titanium finds extensive use due to its exceptional strength-to-weight ratio, resistance to corrosion, and ability to withstand high temperatures.
Platinum Group Metals
- PGMs are indispensable in the fabrication of catalytic converters for vehicles, fuel cells, and various electronic devices.
Graphite
- It is a critical material for the anodes of lithium-ion batteries and is valued for its lubricating properties in diverse industrial applications.