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The global race for dominance in the green technology sphere is heating up as countries strive to transition to renewable energy sources. This drive is not only motivated by environmental concerns, but also by the need to secure access to crucial minerals like lithium, nickel, cobalt, and copper. These metals are essential for the production of batteries for electric vehicles and renewable energy storage, making them the backbone of the clean energy revolution.
Experts predict a significant increase in demand for these minerals in the coming years, driven primarily by the growing electric vehicle market. This has led countries like the United States and those within the European Union to implement measures to reduce their reliance on foreign sources, particularly China. However, opposition to new mining projects due to environmental concerns remains a significant obstacle.
This paradox is evident in Europe, where there are significant lithium deposits, such as the Jadar deposit in Serbia, which could meet the needs of millions of electric vehicles. However, public opposition has stalled efforts to exploit these resources. In the US, progress has been made with the approval of a new lithium mine at Rhyolite Ridge, but concerns about environmental impacts and gaining community support remain.
On the global stage, China currently dominates the supply chain for rare minerals, controlling both mining and processing. This over-reliance on China has raised concerns among other nations, particularly the US and European powers, who are dependent on Chinese leadership for the resources needed for the transition to green technology. Efforts are underway to diversify supply chains through partnerships with resource-rich nations in Latin America.
The Japan Association of Latin America and the Caribbean (JALAC) is co-hosting events aimed at promoting these partnerships and reducing reliance on China. This could have a significant impact on the global market for green technology and minerals, as well as on the relationships between countries. It remains to be seen how successful these efforts will be in balancing the need for resource extraction with environmental concerns.