Critical Minerals and Materials in the Context of the Global Energy Transition and the Role of Developing Countries in their Production

Abstract

During the current stage of the global energy transformation and changes in the structure of fuel and energy complexes, the economic significance of critical materials  and minerals is increasing rapidly. Modern technologies, including renewable energy  technologies,  electric  vehicles,  and  energy  storage  systems,  demand  an  ever-growing  volume of resources such as tungsten, lithium, copper, and rare earth elements. These  materials have become a strategic factor in ensuring the stability and security of national economies. This article analyzes the key drivers of demand growth for critical mineral  resources,  the  geographical  distribution  of  their  reserves,  features  of  extraction  and  processing, as well as assesses the risks and prospects for raw material security amid the energy transition. Special attention is given to evaluating the supply of these resources in  developing countries, analyzing financial and technological tools for extraction, and their  potential to expand production and play a role in global value chains. The study employs  systemic and comprehensive approaches, inductive and comparative analysis, as well as graphical and statistical methods. It concludes that investments in the extraction and  refining  of  critical  metals  increased  significantly  from  2010  to  2020,  while  the  main  obstacle remains the lengthy timelines for launching new projects.