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IEA Says Governments Should Consider Stockpiling Battery Metals

  • Production of some critical metals is highly concentrated
  • Agency says recycling and new supplies should be prioritized

Photographer: Nelson Ching/Bloomberg

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Western governments should consider stockpiling critical battery metals such as cobalt and lithium, the International Energy Agency said, in a stark warning of the geopolitical risks that accompany the green-energy transition.

That call comes as some policy makers worry the shift from burning fossil fuels to a greener economy will expose the world to new threats. Unlike oil, a relatively ubiquitous commodity, production and processing of minerals such as lithium, cobalt and some rare earth elements is highly concentrated, with the top three producers accounting for more than 75% of global supply.