Powering the Future 2025

The current global movement of batteries and battery materials generates vulnerabilities and may perpetuate or exacerbate inequities by leading to improper EOL management and preventing sharing of the benefits of a circular battery economy.Extraction and processing are highly concentrated in a few countries. This generates vulnerabilities in the value chain as voluntary or involuntary disruptions from a single actor can significantly affect global markets. This concentration of supply and refining, coupled with the expected supply shortages, has led to a proliferation of trade alliances and restrictions.422.4 Vulnerabilities and inequitable harms and benefits of value chain design FIGURE 6 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%Share of top three countries in processing, 2022 Rare earths Graphite Lithium Cobalt Nickel Copper Russia China Chile Finland Indonesia Canada Argentina MalaysiaJapan Estonia 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%Share of top three countries in mining, 2022 Rare earths Graphite Lithium Cobalt Nickel Copper United States Russia China Australia Chile Democratic Republic of the Congo Indonesia Philippines Mozambique Peru China Madagascar Source: IEA Critical Minerals Market Review 202343Top three countries for mining and processing of critical minerals