IEA report shows how recycling can bolster critical minerals

The report, Recycling of Critical Minerals: strategies to scale up recycling and urban mining, claims that growth in new copper mining could be cut by 40 per cent by 2050, while new lithium and cobalt mining could be reduced by 25 per cent. The IEA said that $600bn of mining investment is needed by 2040 to meet the demands of the energy transition. However, without expanded recycling, this figure would be 30 per cent higher.

Recycled critical minerals carry an average 80 per cent less greenhouse gas emissions than primary materials, as well as helping divert waste from landfill. In addition to the financial and environmental gains on offer, the IEA also stressed how recycling can be a major boon to supply chain security.

“Recycling is vital to tackling the challenges around critical mineral supplies and ensuring long term sustainability,” said Fatih Birol, IEA executive director.