Executive summary The resilience of the minerals supply chains that underpin electrification and digitalization depends on structured multistakeholder coordination. The pace and scale of electrification and digitalization depend on resilient, transparent and well-coordinated minerals and metals supply chains. Electric vehicles (EVs), data centres and electricity transmission and distribution (ET&D) each rely on the same materials, such as copper, aluminium and rare earth elements. These are processed through a small number of refining hubs, making resilience a shared priority for industry and government. Yet, the system remains only partially understood. Interconnections and vulnerabilities across value chains run deeper than many stakeholders realize. Shared refining hubs and common upstream bottlenecks mean that a disruption in one sector can reverberate across many others. These links, however, are rarely reflected in systemic or coordinated policy decisions – many recent measures address minerals supply and security in isolation rather than as part of an integrated value- chain approach. Early warning signs are already apparent: new capacity for critical minerals remains unpermitted or unfunded, while demand continues to outpace upstream investment. Against this backdrop, the World Economic Forum, in collaboration with Kearney and enabled by the support of the Forum’s Mining and Metals Industry Community, consulted with more than 65 senior executives across these value chains to hear their perspectives and shape a shared understanding of the issues. These are captured in this white paper, which aims to: 1. Clarify interdependencies: Show how mineral dependencies connect sectors that were once thought of as distinct. EVs, grids and data centres rely on many of the same materials and refining and manufacturing hubs, yet decisions are still taken in silos (Sections 1-2). 2. Strengthen shared awareness: Identify where vulnerabilities lie, how technology and policy shifts shape demand and why fragmented responses amplify risk (Section 3). 3. Drive collective actions: Emphasize that coordination across supply chains, investment timelines and policy frameworks is essential to manage these risks and ensure capacity grows where and when it is needed (Section 4). Resilience will not emerge organically. It requires structured collaboration – connecting decisions, priorities and investment timelines across industries, financiers and governments. Progress will depend on empowered coordination platforms and partnerships, capable of convening diverse actors and aligning their efforts towards shared outcomes. Building on findings from the Forum’s Securing Minerals for the Energy Transition (SMET) initiative, this paper outlines four key building blocks for collective action to translate collaboration into tangible progress: –Strengthen coordination mechanisms to bring together stakeholders and align priorities across sectors. –Build a shared risk picture to clarify vulnerabilities, bottlenecks and interdependencies. –Deploy collective resilience strategies – combining supply diversification and expansion with demand-side measures. –Enable collaboration through convening platforms, transparency tools and common standards. This decade will be decisive for the energy and digital transformations already underway. Delivering vehicles, data capacity and grid infrastructure on time to meet the pace and scale of these transitions will depend on multistakeholder coordination – anchored in shared awareness of the mineral systems that connect them all. From Minerals to Megawatts: Building Resilience for EVs, Data Centres and Power Grids 4

From Minerals to Megawatts 2025