Mining News

Energy transition will require many times more metals than are currently mined

Given the rate of population growth, a 10% penetration of electric vehicles (EVs) into the automotive market by 2030 would require the mining industry to produce about ten times more metals than what it currently produces, Rainbow Rare Earths CEO George Bennett has said. “Most people don’t realise that the production of EVs requires two to three times more metal than a normal petrol and diesel car,” he explained, adding that the meeting of 2050 emissions targets and COP26 plans to transition away from petroleum-based transport would require as much 40 to 50 times more critical metals and minerals than are currently mined.

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