Battery Metals at Risk of Supply Snags as Demand Surges, UN Says
- Global rechargeable battery market to grow 7% during 2019-2024
- Market for cathode expected to reach $58.8 billion by 2024
A visitor walks past a brine lake at a lithium mine in the Atacama Desert, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
Supplies of lithium and other minerals used in rechargeable batteries are highly concentrated in just a few countries, leaving the raw materials vulnerable to disruption as a boom in electric cars bolsters demand, according to the United Nations.
Nearly 50% of world cobalt reserves are in the Democratic Republic of the Congo, 58% of lithium reserves are in Chile, and 80% of natural graphite is in China, Brazil and Turkey, according to a report from the UN Conference on Trade and Development.