Global Business Opportunities for Critical Metals
Editorial Note-
From The Recyclekaro Team
Because of the rapid growth of technology and the growing emphasis on environmentally friendly energy sources, key metals have become increasingly important. A wide range of businesses, including the electronic industry, the renewable energy industry, and the electric vehicle industry, rely heavily on these metals, which include lithium, cobalt, nickel, and rare earth elements, amongst others.?Green industrialization has a great chance to capitalize on the clean energy transition's increasing demand for essential raw materials, which is particularly true in poor nations. A growing number of nations are forming intergovernmental partnerships to address the possible shortage of essential raw materials; however, these agreements need to be designed to entice investors while incorporating sustainability criteria
Knowing Critical Metals –
Strategic or rare metals are needed to make high-tech equipment and green technology. Their qualities make these metals indispensable in many applications:
Lithium: Used in EV and portable electronics batteries.
Cobalt was employed to make high-energy density batteries.
Nickel: Crucial for battery and stainless-steel production. Magnets, electronics, and renewable energy technologies require rare earth elements (REEs).
?Announcement: -
Recyclekaro becomes one of the 4 Lithium-ion Battery Recyclers Registered on India's EPR Portal
Recyclekaro , a leading e-waste and lithium-ion battery recycling company, is proud to announce its registration on the government's Extended Producer Responsibility (#EPR) portal for e-waste recycling. As a lithium-ion battery recycling industry leader, Recyclekaro joins Lohum Cleantech , Attero , and LICO Materials Private Limited as one of the four registered lithium-ion battery recyclers, reinforcing its commitment to sustainable #ewaste management. Based on its existing recycling capacity, Recyclekaro will help lithium-ion battery and electronics product manufacturers, producers, and importers?in India?meet their EPR targets.?These targets include 4,200 MT for lithium-ion battery recycling and 15,000 MT for e-waste recycling, ensuring comprehensive support for sustainability goals.
India is the third-largest e-waste producer globally, generating 1.71 million metric tons annually, with only approximately 40% of e-waste recycled in the last financial year. To address this challenge, the EPR portal, an initiative by the Central Pollution Control Board (CPCB) , provides a transparent and accountable framework for electronic waste management in India. It centralizes the tracking of e-waste from production to disposal, connecting manufacturers with registered recyclers like Recyclekaro and streamlining collection and recycling processes. The system offers financial incentives through EPR credits, making recycling economically viable and supporting companies in meeting sustainability targets. Additionally, the platform ensures regulatory compliance, improves data collection and reporting, and encourages innovation in recycling technologies, fostering a more sustainable approach to e-waste management in India.
The Battery Waste Management (BWM) Rules, 2022, notified by the Ministry of Environment, Forest, and Climate Change, apply to all types of batteries. These rules mandate that producers (manufacturers, importers) meet collection and recycling targets to fulfil Extended Producer Responsibility (#EPR) obligations. Producers, recyclers, and refurbishers must register through the online portal developed by the CPCB, which enhances accountability, traceability, and transparency in meeting EPR obligations.
Rajesh Gupta, Founder & Director of Recyclekaro , commented, "Registering on the government's EPR portal not only allows us to connect directly with manufacturers, fulfilling their waste management responsibilities, but also significantly enhances our business opportunities. Being among the four registered recyclers for lithium-ion battery end to end recycling is a major milestone and a recognition that showcases our credibility. This registration strengthens our position in the industry and supports our mission to promote sustainable and responsible recycling practices."
Recyclekaro has established a strong presence in the Indian recycling industry, achieving 90% metal extraction efficiency with purity levels exceeding 99% from scrap batteries. The company plans to double its recycling capacity by the second quarter of FY?2024-25.?
Online Coverages: -
Link: https://www.energetica-india.net/news/recyclekaro-announces-its-registration-on-indian-epr-portal
?Link: https://www.iamrenew.com/sustainability/recyclekaro-registers-on-epr-portal-for-e-waste-recycling/
Latest News and Trends: -
There has been a doubling of the market size for minerals that contribute to clean energy transition technologies such as electric vehicles, wind turbines, solar panels, and more in the last five years, according to a new analysis from the International Energy Agency.
Minerals including lithium, cobalt, nickel, and copper are in high demand due to the unprecedented deployment of clean energy technologies, according to the inaugural IEA Critical Minerals Market Review.
Future demand for rare earths and other commercial raw resources is predicted to grow dramatically. This was prepared by the European Parliament and Council's November 2023 interim agreement on the Critical Raw Materials Act (CRMA). Mining and processing enterprises, manufacturing companies, non-EU actors, and investors will be affected by the regulation. Goals of the CRMA: -Increasing and diversifying EU key raw material supply -Enhancing recycling and circularity -Promoting resource efficiency and replacement development research
?India needs to get ready by establishing joint ventures with mining firms and original equipment manufacturers from across the world to strengthen its lithium value chain and realize its goals of becoming a green energy nation.
?During the global automotive sector's electrification, its expanding relationship with the mining industry demands more attention. To acquire battery materials for electric vehicles, top automakers are partnering with mining businesses. GM is investing $650 million in a Nevada lithium mining project. Ford Motor Company signed long-term lithium supply agreements with US, Canadian, and Chilean suppliers. Volkswagen seeks to buy Canadian mine stakes. In addition to lithium, the EV industry wants cobalt, nickel, and copper. These scarce resources are unevenly distributed worldwide. OEMs usually engage with battery producers to source EV batteries since extraction is not their core strength. Battery makers would then buy raw materials from upstream mining and metal refineries.
Can saltwater metals be extracted sustainably? A carbon-neutral startup in Oakland, California, extracts magnesium from ocean water and industrial waste brine. With U.S. Défense Department funding, Magrathea Metals has manufactured tiny amounts of magnesium in pilot programs.
As the energy revolution switches to providing clean energy technologies with key metals and minerals, mining and resources are changing. To avoid a supply gap, the world must invest more in these resources to meet Paris Agreement commitments.
The Energy Transitions Commission (ETC) found that 250 new mines will be needed to supply demand for copper, lithium, nickel, steel, and other metals.
Sophie Lu and Michael Willoughby from HSBC discuss the importance of sustainable mineral extraction, China's leadership in refining technologies, and the impact on financing decisions. Challenges include high capital costs for mining projects, skills shortages, geopolitical conflicts, commodity price volatility, and ESG complexities.
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The switch to clean energy is driving up the prices of many important raw materials. This opens a lot of possibilities for green industrialization, especially in developing countries.
The clean energy revolution is driving demand for vital raw materials, creating potential for green industry, especially in poor countries. Many countries are forming state-to-state partnerships to fill major raw material supply-demand gaps, but these must attract investments and incorporate sustainability requirements.
Foreign investors can take advantage of the country's vital mineral processing opportunities, which offer a wealth of information about fiscal and non-fiscal incentives designed to stimulate growth in the emerging sector.
The nation's development trajectory and state-level interventions to foster enabling infrastructure were also underscored by the shares of incentives provided by leading mining states such as Odisha and Andhra Pradesh for industry.
The Strategic Outlook for Critical Minerals: -
It's anticipated that lithium, cobalt, copper, nickel, zinc, and aluminum production will exceed $4 trillion in 2035. By the next decade, batteries and accumulators could reach $1 trillion. Over the next decade, lithium consumption will rise as the automobile sector switches from ICE to EVs. Electronic components and boards, which include semiconductors, and communication equipment, which includes cell phones, drive battery consumption.
Lithium, nickel, and cobalt utilization will rise in proportion to battery output. Technology matters, and lithium recovery research could extend battery life. Over time, automotive battery technology may minimize lithium dependency.
Critical Mineral Supply Chain Geopolitics: -
Supply lines for critical minerals are very complicated and making them more diverse and resilient will take a lot of time, knowledge, and money. But in the last ten years, there has been a big change in where key minerals come from and a small change in how much the world can process and make things.
?US-China competition has necessitated more resilient and diversified supply networks. Complex multinational networks of suppliers, manufacturers, and distributors supply the commodities and services that power the two largest economies and the global economy. Most issues concerning global supply chains used to be economic: what's the price of a good and how efficient is delivery? Today, geopolitics is key: where are products coming from, are they crucial for national security, and how can we ensure a secure, shock-resistant supply?
Demand for critical minerals is growing, and China dominates the supply chain:
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The results also reveal that no nation controls crucial minerals. China held 50% of REE deposits ten years ago. That number is now 34%. Significant finds have also occurred in Indonesia, Argentina, Australia, and Vietnam. Sweden found Europe's greatest REE deposits this year, and a volcanic crater on the Nevada-Oregon border may have the world's largest lithium deposit, 20 to 40 million tons. By the end of the decade, we should expect more findings to expand our understanding of varied supply sources.
India’s position: -
India represented a sustainable future at COP28, pushing for a phased transition that stresses inclusion while acknowledging fossil fuels' importance in the global economy. Despite this, India's pursuit of a greener, more resilient future has focused on essential minerals.
Critical minerals, the backbone of renewable energy and clean technologies, are essential but scarce in India's low-carbon transition. Despite its ambitious goal to generate 50% of its cumulative installed electric power capacity from non-fossil fuels by 2030, the nation faces significant challenges in accessing, extracting, and processing these minerals, which are mostly controlled by a few nations.
China supplied India with 50,000 tones of amorphous graphite, 1,100 tones of cobalt oxide, and 5,300 tones of nickel oxide and hydroxide from 2017 to 2023. India imports all its lithium and cobalt, mostly from China, which produces over 60% of the world's lithium-ion batteries. (Source- Diplomat)
India has selected 30 minerals as vital to its national and economic security to address these issues. Cobalt, lithium, nickel, copper, and rare earth elements are important in military, space, telecommunications, and high-tech electronics, not only economically. Strategic identification supports India's self-reliance and inclusion goals for net-zero emissions by 2070.
India's key minerals future depends on multifaceted measures. Domestic and international development are needed to close the demand-supply mismatch. The story includes resilience, sustainability, and sovereignty, not just energy security. India's quest for essential minerals is linked to its greener future and stronger economy. Responsible extraction must reduce environmental and social consequences. These resources must be secured while negotiating global complexity for the nation to achieve sustainability.
Our Perspectives-
We believe that waiting for a geopolitical shock to invest in more diverse, robust supply chains would not benefit governments, firms, or consumers. War caused global economic instability, including food shortages and inflation. Europe has only been able to transition away from Russian energy supplies due to a warm winter, renewable energy infrastructure, gas storage, lower demand, and Middle Eastern and North American suppliers. Many enterprises were caught in the geopolitical crossfire.?Meanwhile, politicians and corporate leaders acknowledge globalization's benefits. They are strengthening and establishing guardrails on China-US-other countries commercial interactions. We believe a more diverse and resilient key mineral supply chain would cost money in the short and medium run. However, it would minimize the use of essential minerals for geopolitical benefit and improve security, environment, and economy. Geopolitics, like economics, has few solutions. Complex choices and compromises are common
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