New Delhi, September 25, 2026: The global competition for critical minerals is increasingly becoming a major economic and strategic issue, extending beyond traditional geopolitical conflicts. Copper, lithium, nickel, cobalt, graphite and rare earth elements are now central to the development of electric vehicles, batteries, power grids, renewable-energy systems, advanced manufacturing and defence technologies.
The International Energy Agency (IEA) says critical minerals have moved to the forefront of energy, economic and national-security agendas, with countries seeking to reduce vulnerabilities caused by concentrated supply chains and growing use of export restrictions.
Copper Emerges as a Major Concern
Copper is attracting particular attention because of its importance to electricity networks, renewable energy, data infrastructure and electrification. According to the IEA’s 2026 outlook, the current project pipeline points to a potential 25% copper supply deficit by 2035, despite improvements in the projected supply outlook.
Demand for other minerals is also expected to expand substantially. Under the IEA’s stated-policies scenario, lithium demand is projected to more than triple by 2040, while demand for nickel, graphite and rare earths is also expected to grow significantly.
Supply Chains Remain Highly Concentrated
The competition is not simply about discovering new deposits. Mining, refining and processing capacity are equally important. The IEA estimates that the average share of the leading refined supplier across key energy minerals reached 70% in 2025, up from 68% in 2020. China dominates much of the processing landscape, while Indonesia is a major driver of nickel supply growth.
Recent export restrictions have highlighted the vulnerability of these concentrated supply chains. Governments are consequently pursuing new mines, domestic processing capacity, recycling programmes and partnerships with resource-rich countries to diversify supplies.
India and Other Countries Seek New Sources
The race for resources is also driving companies to acquire overseas mining assets. For example, Indian critical-minerals producer Lohum is seeking nickel assets in Indonesia and the Philippines and is developing lithium-related operations in Zimbabwe. The company is also exploring rare-earth opportunities in Southeast Asia.
Meanwhile, efforts to diversify rare-earth supply chains are intensifying as the United States, Europe, Japan and other economies seek alternatives to concentrated Chinese processing capacity.
A New Era of Resource Competition
The global race for critical minerals is therefore becoming a competition involving mining rights, processing technology, investment, trade policy and strategic partnerships. For resource-rich countries, the trend could create opportunities to attract investment and develop domestic industries. For consuming nations, securing reliable supplies is increasingly viewed as essential to industrial and energy security.
As electrification, renewable energy, artificial intelligence infrastructure and advanced manufacturing expand, access to critical minerals is likely to remain a major factor shaping global commodity markets and international economic relationships.