Critical Minerals

Critical minerals, also known as strategic minerals or critical raw materials, refer to mineral resources that are of significant importance to the economy and national security of a country. These minerals are essential for the functioning of various industries, including advanced technology, defense, energy, and manufacturing. The term "critical" does not solely indicate their scarcity but also considers their strategic value and potential supply chain vulnerabilities. The specific list of critical minerals may vary depending on national or regional priorities, but some commonly recognized examples include:

1. Rare Earth Elements (REEs): These are a group of 17 elements, including neodymium, dysprosium, and yttrium, which are vital for various high-tech applications, such as magnets, electronics, renewable energy technologies, and defense systems.
2. Lithium: Lithium is crucial for the production of lithium-ion batteries, widely used in electric vehicles (EVs), portable electronics, and renewable energy storage systems.
3. Cobalt: Cobalt is a key component of lithium-ion batteries, particularly for EVs. It is also used in aerospace alloys and various industrial applications.
4. Graphite: Graphite is essential for lithium-ion batteries, acting as an electrode material. It is also used in lubricants, refractories, and emerging technologies like graphene.
5. Platinum Group Metals (PGMs): PGMs, including platinum, palladium, and rhodium, are critical for catalytic converters in vehicles, industrial processes, fuel cells, and electronics.
6. Rare Metals: Tantalum, indium, gallium, and germanium are among the rare metals with critical applications in electronics, semiconductors, telecommunications, and energy technologies.
7. Antimony: Antimony is used in flame retardants, lead-acid batteries, and various industrial applications, including semiconductors.
8. Titanium: Titanium finds applications in aerospace and defense industries, as well as in medical devices, corrosion-resistant equipment, and lightweight alloys.

The identification of critical minerals is often driven by factors such as their economic importance, supply chain risks, geopolitical considerations, technological advancements, and environmental implications. Governments, international organizations, and industry stakeholders monitor the availability, production, and trade of critical minerals to ensure their sustainable and secure supply for critical industries.