Meeting climate targets requires an eightfold rise in lithium demand and a doubling of magnet rare earth demand by 2040, according to the International Energy Association. The primary constraint is the midstream processing stages, where China controls 60% to 70% of lithium conversion and more than 85% of rare earth separation.

Many Global South countries and companies within them are trying to expand their processing capability. Yet, many of these actors lack understanding of the latest research, development, and innovation in critical mineral processing.

The global coal value chain is extensive and spans countries. Nearly 7,000 coal mines collectively produce over 8.5 billion tons of coal every year. More than 2,400 coal-fired power plants across the globe operate with a capacity of 2,175 GW. Then, there are numerous rail networks, trucks, and port terminals that constitute parts of the coal value chain. Yet in a net-zero world, this value chain will need to shrink rapidly, which could negatively impact the economies and communities that currently depend on it.