UNITED NATIONS (AP) — The demand for critical minerals essential for technology ranging from smartphones to military applications is projected to dramatically increase, potentially tripling by 2030 and quadrupling by 2040. This alarming forecast was presented by the United Nations political chief, Undersecretary-General Rosemary DiCarlo, during a briefing at the U.N. Security Council on Thursday.
DiCarlo highlighted that minerals like lithium, cobalt, and nickel, which were once considered strategically insignificant, have become indispensable for supporting the digital economy and the energy transition. In her address, she noted that global trade in raw and semi-processed minerals hit approximately $2.5 trillion in 2023, accounting for over 10% of total global trade. She referenced projections from U.N. reports set for release in 2025, indicating the drastic increase in future demand for these vital resources.
U.S. Energy Secretary Chris Wright, who oversaw the session titled “Energy, Critical Minerals and Security,” echoed DiCarlo's comments, emphasizing the security implications of relying on a single country for critical materials. He asserted that ensuring a diverse supply of minerals is not just a matter of economic strategy but vital for safeguarding national security and preventing potential conflicts.
Wright's statements coincided with bold initiatives by the Trump administration to enhance domestic supplies of critical minerals crucial for electric vehicles, military aircraft, and cutting-edge technology. The backdrop of these moves involves China, which has historically dominated the rare earth mineral market. In response to the sweeping tariffs imposed by President Donald Trump, China reduced its export of these minerals, heightening concerns over dependency.
Though the U.S. and China appeared to reach a temporary resolution regarding import taxes and rare earth restrictions, China's export limits on these resources remain stricter now than before Trump's administration began. Recently, the U.S. announced plans to establish a critical minerals trading bloc with allied nations, aiming to counter China's influential position in this domain.
Addressing the Security Council, China's U.N. Ambassador Fu Cong acknowledged the increasing global demand for critical minerals amid a rapid energy transition and advancements in technology, including artificial intelligence. Fu stressed the urgent need for international collaboration to stabilize supply chains and address imbalances in resource distribution to support economic growth globally. He also called for countries to engage in an initiative aimed at transforming the mining sector toward “green mining,” which was introduced by China at the G20 summit in South Africa last November.
As part of U.S. efforts to diversify its critical mineral sources, the administration is enhancing partnerships with nations like Venezuela and the Democratic Republic of the Congo. During the session, U.S. Secretary of the Interior Doug Burgum highlighted Venezuela's commitment to providing security assurances to mining companies willing to invest in mineral-rich areas previously dominated by guerrilla groups and gangs.
Moreover, last month, Congolese President Felix Tshisekedi extended an offer to U.S. companies for access to eastern Congo’s vast and largely untapped mineral wealth, estimated to be worth $24 trillion. This offer is seen as leverage for securing U.S. backing to combat local insurgents and improve the region’s infrastructure.
Congo's U.N. Ambassador Zenon Mukongo emphasized the indispensable role of the private sector within the mineral industry and global supply chains, underscoring the necessity of adherence to national laws to prevent the funding of armed groups through illegal exploitation of resources. He called for responsible engagement from foreign investors to ensure that their activities benefit local communities rather than perpetuate violence and instability.
