The global demand for these minerals has been growing, as has the competition for them.The supply and production of these minerals is largely concentrated in the global South. Most of the world’s cobalt is produced in the Democratic Republic of Congo (DRC). It produces almost three-quarters of the global cobalt output. Australia produces nearly half of the world’s lithium. Chile accounts for another quarter of global lithium production, with China following at 18%.
China dominates the supply chain through massive investments in mining operations, particularly in Africa. It is responsible for refining 90% of rare earth elements and graphite, and 60-70% of lithium and cobalt. The United States and European Union — long-term trading partners with African nations — have also adopted policies to secure access to Africa’s resources.
