We live in a time of transition. As nations and international organizations set ambitious climate and sustainability goals, commodity prices have soared and supply chains have entered a volatile state of flux. In addition, both of these trends have been significantly exacerbated by the war in Ukraine and recent lockdowns in China.
Questions about pricing and security of supply abound, not only for major, foundational resources such as oil, gas and coal, but also for a broad range of commodities, from food crops to fertilizer to metals. And all this is occurring against the backdrop of inflation rates not seen in decades.
The minerals and materials identified as critical to electrification and sustainability have been particularly impacted by these macro factors, pushing them to the forefront of prominence for governments and investors alike. Both Canada and the US have defined their own lists of critical minerals, a term that describes resources that have been identified as essential to either national security or green energy, and are sourced primarily internationally. The most noteworthy common thread between the two lists is that both heavily feature battery and platinum group metals (PGMs).
For further details see:
The Importance of a Domestic Supply Chain for Critical Minerals