Lithium-ion batteries, hydrogen electrolyzers and transmission lines all require one fundamental ingredient: metals. In other words, there can be no energy transition without massive metal supplies. Lithium demand jumps 17-fold by 2050 in BloombergNEF’s Net Zero Scenario. Manganese demand jumps 15-fold, and copper needs rise 4.5-fold against 2023 levels. Yet as demand skyrockets, supply growth is facing headwinds as low metals prices jeopardize important capacity additions.

On today’s show, Dana is joined by Rosemary Katz and Kwasi Ampofo from BNEF’s metals and mining team to discuss the 2024 Transition Metals Outlook. Their conversation focuses on the 10 metals critical to the energy transition, the link between cooling electric vehicle demand and falling metals prices, and whether the world has enough known metals reserves to meet 2050 net-zero targets.

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Transition Metals Outlook 2024 - https://www.bnef.com/flagships/transition-metals-outlook