KEY MINERALS to the energy transition

2024 Mineral Production Highlights 🌍

In 2024, cobalt led production growth among energy transition minerals, increasing by 33% —driven largely by a 44% surge in production from the Democratic Republic of Congo (DRC), wich commands a dominant 74% share of global cobalt output.

Lithium followed with a 16% increase in global production. While Australia saw a 4% decline, it remains the top producer with a 36% share of global output. South and Central America drove global growth—Argentina and Brazil nearly doubled their production, and Chile grew by 18%, holding its position as the second-largest producer at 23% of global output.

Africa’s mineral production rose by 4%, now accounting for 27% of global output. The continent is a powerhouse in manganese, with South Africa and Gabon contributing 57% of global production.

China maintained its leadership in critical minerals—responsible for 71% of rare earth metals and 74% of natural graphite production. Together, China and Australia hold over 32% of global reserves of key transition minerals.

Rising demand for critical minerals is putting pressure on reserves-to-production ratios — a trend to watch closely! ⚡