2023 critical mineral price drop in IEA's Global Critical Minerals Outlook 2024 may hinder future investment and diversification.
The International Energy Agency's Global Critical Minerals Outlook 2024 warns that the drop in critical mineral prices in 2023, though beneficial for clean energy deployment, could impede future investment and diversification. Despite the market size for key energy transition minerals contracting by 10% to $325bn in 2023, due to falling prices, investment in critical minerals mining grew by 10% and exploration spending rose by 15%. However, these increases were slower than in 2022. Notable minerals impacted include copper and lithium.
May 17, 2024
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