Full Title: The Emerging Global Market for Energy Transition Critical Minerals
Author(s): Anupama Sen, Tooraj Jamasb, and Natsuko Toba
Publisher(s): EFMD, AACSB, AMBA, CEMS, PIM,
Publication Date: July 1, 2025
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Description (excerpt):
As the clean energy transition progresses, critical minerals and metals will be essential components in the deployment of clean energy technologies, with estimates of their demand set to soar. However, proven reserves, as well as processing facilities, are geographically concentrated in a small number of countries. This paper addresses the following research question: how will the emerging market structure for critical minerals develop: will producers and consumers compete, cooperate, or cartelise? We contribute to the literature by exploring frameworks to describe some possible outcomes of market evolution based on characteristics of the current critical mineral market, preconditions for competition, cooperation or cartelisation, and case studies. We draw on insights from collusive oligopolies in the international market for oil and gas.