“Important minerals such as lithium, cobalt, nickel, rare earths, etc. are essential for the production of electric motors and batteries, which are considered important for national security and economic stability. The global supply chain of these minerals faces many challenges, including geopolitical tensions, environmental concerns, and market volatility. International cooperation is essential for stable supply chain management for countries that rely on these minerals but have restrictions on domestic supply, such as Korea.
Robbie Diamond, founder and CEO of Future Energy Security (SAFE), pointed out China as an ‘elephant in the room’ and stressed, ‘With China occupying rare earths, it has become important to manage the supply chain of resources essential to energy, military systems, and even all fields around the world.’ The elephant in the room is a social problem that no one wants to touch, even though they know it is a crisis.”
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