Sovacool, and 6 co-authors, reported in 2020 that mineral and metal supplies are geologically determined, yet socially mediated. Even if supplies are enhanced through co products of other industries, new resource streams, and considerable expansion of recycling and increased recovery rates, there are likely to be bottlenecks across metal supply chains. This is exacerbated by poorly functioning markets, as least for the minor metals. Hence, trade policy will need to become more deftly aligned with mineral supply in ways which are both economically and ecologically more efficient. Furthermore, more robust reporting and emissions data will be required across the supply chain. For example, although the U.S. government strategy for mineral supply security released in June 2019 highlights the importance of trade with allies and partners, it does not consider where it is most ecologically efficient to source minerals.
Pursuing decarbonization simultaneously with principles of a circular economy, coupled with increased market transparency mechanisms and full lifecycle reporting, could yield important social and environmental benefits. Consideration should also be given to where mining is most likely to have a positive development footprint while also having more manageable environmental impacts. Utilizing tools such as the Responsible Mining Index and platforms such as the Responsible Minerals Initiative or the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development may be a way forward. Although there may be treaty fatigue among policy makers, an inter-treaty protocol on mineral supply chains to ensure that the goals of existing treaties are met could enhance effective governance. Conversations in this vein should be attempted among the parties to the UN Framework Convention on Climate Change, through the UN Environment Assembly, as well as more focused mechanisms such as the U.S. government’s recently launched Energy Resource Governance Initiative, the World Bank’s Climate-Smart Mining Facility, or the European Institute of Innovation and Technology for Raw Materials.
Having just marked the 150th anniversary of the formulation of the periodic table, it is high time we realize that the elements, and the minerals in which they are embedded, are essential to our attainment of low-carbon goals. There is an ethical conundrum to addressing climate change only by aggravating other social and ecological problems related to unsustainable mineral and metal supply chains. But done sustainably, an impending mining boom could help lift communities out of poverty, accelerate technical innovation for decarbonization, and further the realization of energy and climate targets. Which direction it takes will depend considerably on how metal and mineral supply chains are governed over the next few critical years.
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