How #China cornered the market for #CleanTech-Right Under the West's Nose...

Following up on yesterday's FT article "The New Commodities Superpowers" on how #BatteryMetals producers are looking to establish their own cartel, today the FT goes deeper into how China cornered the market for the building blocks of clean technologies.  

"China today is responsible for the production of about 90% of the world’s rare earth elements, at least 80% of all the stages of making solar panels and 60% of wind turbines and electric-car batteries. In some of the materials used in batteries and more niche products, China’s market share is close to 100%."

This has led to serious geopolitical challenges in the West s they seek to transition away from fossil fuels.

#BatteryMetals producers look to establish their own cartel

As the electrification drive continues globally in the search for lower fossil fuel emissions, the producers and refiners of the metals needed for this "revolution" are finding themselves at the intersection of the world's supply chains and geopolitics.

The FT takes on the subject in this latest piece.

The new commodity superpowers

"We're not satisfied. None of these contracts create value for us," says Guy Robert Lukama, head of the DRC's state-owned mining company Gécamines. He would like to see more jobs, revenue and higher-value mineral activities captured by the DRC.

Lukama also advocates government intervention to keep cobalt prices high: "Excess of supply needs to be organised properly. Some export quotas will be useful," he says.