The growth in the mining for new supplies of critical minerals could be significantly reduced if recycling were scaled up along with strong policy support. This is one of the conclusions from a report published by the International Energy Agency (IEA): Recycling of Critical Minerals: strategies to scale up recycling and urban mining. The 163-page document, aimed at policy makers, investors and recyclers, said that the development of new policies and facilities to support recycling of critical minerals could significantly reduce potential strains on supply.
As the shift to a clean energy increases, the IEA said, substantial investments in new mines and refining capacity will be needed to supply essential minerals such as copper, lithium, nickel, cobalt and rare earths. While recycling won't eliminate the need for mining investment, it creates a valuable secondary supply source that reduces reliance on new mines and enhances supply security for countries importing minerals - setting critical minerals apart from fossil fuels.
“Recycling is vital to tackling the challenges around critical mineral supplies and ensuring long term sustainability,” said IEA Executive Director Fatih Birol. “Investment in new mines and refineries remains crucial but there is ample opportunity for recycling to maximise the resources already at our disposal.”
The IEA notes that while there are an increasing number of policies being developed around the use of recycled critical minerals, this has so far failed to keep pace with the rise in critical mineral consumption.
If countries around the world deliver on all the announced national climate pledges, recycling reduces new mine development needs by 40% for copper and cobalt, and by 25% for lithium and nickel by 2050, it said.
The IEA Critical Minerals Policy Tracker indicates that the last three years have seen more than 30 new policy measures on recycling introduced. If all existing and announced policies were realised, the market value of critical minerals recycling would reach $200 billion by 2050. Such policies are supported by the rising number of electric vehicles reaching their end-of-life leading to rapidly increasing feedstock after 2030. The market for recycled battery metals is already growing fast with an 11-fold increase in less than a decade, the IEA adds.
China remains the global leader for battery pretreatment and materials recovery and is expected to maintain more than 70% of the market share in these two areas until around 2030. The IEA highlighted the development of a Chinese state-owned enterprise which is focused on recycling.
While there are many positive outcomes from battery recycling, the report sounds a note of caution. Poorly managed battery recycling has the potential to result in pollution, water contamination and other harmful emissions. However, there is scope to strengthen existing recycling standards the report says.
Addressing the wide range of issues related to recycling of critical minerals, the IEA sets out nine key actions for policy makers. These actions include: development of detailed long-term policy roadmaps with clear targets and intermediate milestones to provide clarity on policy directions and greater certainty for investors; encourage traceability, standards and certifications to boost the consumption of recycled materials; provide targeted financial support for technology innovation, R&D and workforce training; and tackle environmental, social and governance (ESG) issues for recyclers.
“We have to take advantage of this treasure trove of worn batteries and electrical devices that could be revived and reused, but to do so we must develop a mature marketplace for recycling to make it attractive and easily accessible,” Birol added.
Further reading on science and innovation:
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Critical minerals: action needed to reduce use and improve sustainability
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Critical minerals: UK lags, China dominates and parliament demands a plan
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