The growing worldwide demand for critical minerals presents a number of challenges and opportunities for different industries globally. In the midst of this, traceability of these minerals is emerging as a potential global standard. UN experts recently stressed the importance of a "global traceability, transparency and accountability framework along the entire minerals value chain, from mining to recycling". Understanding this phenomenon is essential to understanding not only the future of the mining sector, but also the economic and environmental impact of these valuable resources.
The Advance in Demand for Critical Minerals
In the last decade, the world has experienced an exponential increase in demand for critical minerals. These minerals, such as lithium, cobalt, nickel and especially copper, are fundamental components for green technology - including renewable energy and electromobility. This demand is driven by developing and developed countries seeking to meet their sustainability goals and reduce their carbon emissions.
The International Energy Agency (IEA) has warned that the need for minerals for clean technologies could increase up to four times by 2040. Global policies are increasingly focused on securing the supply of these minerals, establishing strategic alliances and increasing investment in mining.
Focusing on the Copper Market
Copper, in particular, is considered a critical mineral due to its high electrical and thermal conductivity, which makes it an indispensable component for electromobility and electronics globally. With the transition to a low-carbon economy, copper becomes even more essential. According to the Wood Mackenzie report, demand for copper alone is expected to reach 29 million tons per year by 2030.
The current copper market scenario is marked by significant pressure to ensure a reliable and sustainable supply of the mineral. Countries such as Chile and Peru, which are major copper producers, are focused on increasing their production while strengthening environmental regulations.
Traceability: A Key Element for the Future
Traceability of minerals is fast becoming a new global standard. This practice makes it possible to trace the origin and path of a mineral from its extraction to its final use. Traceability not only increases transparency in the supply chain, but also ensures compliance with environmental and labor standards.
Organizations such as the OECD have developed guidelines for minerals due diligence, highlighting the importance of traceability in the supply chain. In addition, technologies such as blockchain, artificial intelligence and traceability platforms are increasingly being employed to facilitate this tracking, ensuring that minerals information is reliable and secure.
This approach not only responds to a growing demand from consumers interested in corporate social responsibility, but also helps companies mitigate risks and comply with stricter global regulations.
Implementation and Benefits of Traceability
Implementing traceability in the mining industry is not a simple task. It requires a combination of advanced technology, international cooperation and company commitment. However, the benefits are numerous and significant. At the macro level, the benefits are in line with the reduction of illegal exploitation of minerals, improved working conditions for workers and environmental protection.
Traceability can also open up new opportunities for the mining production plants themselves and their logistics and delivery chain. By being able to obtain on-site data on the mineral process, it is possible to optimize processes in the mining value chain, reduce production times and speed up the delivery of finished products, certify the origin and compliance with international standards, and generate a more competitive and differentiated commercialization.
Traceability of critical minerals is becoming a crucial standard in light of growing global demand. Especially in markets such as copper, which play a vital role in the transition to sustainable technologies, the adoption of traceability practices promises to have a significant impact on the future of the sector.
How to start having traceable mining operations, at Antara we have been supporting the reliability of the mining industry for more than 12 years, generating more efficient plant operations and more reliable logistics. Learn how to implement our suite here or write to contacto@antarasolutions.com
