POWER September 2021 - 15

GLOBAL MONITOR
in chromium, molybdenum, nickel, and
titanium. If geothermal capacity more
than quadruples by 2040 as the SDS
envisions, geothermal mineral demand
will account for 75% of total demand
for nickel from all low-carbon power
sources, nearly half of the total chromium
and molybdenum demand, and
40% of titanium demand.
Hydropower. While hydropower has
a relatively low mineral intensity compared
to other sources of low-carbon
power, it uses more concrete than any
other power resource. Hydropower will
also require future copper and chromium
supplies-up to 2% and 11% of total demand
from all low-carbon power capacity
in 2040, according to the IEA.
Nuclear. Nuclear, like hydropower, is a
low-carbon technology with a low mineral
intensity. It generally needs chromium,
copper, nickel, hafnium, and yttrium (as
well as uranium, but that is an already
established commodity). A 60% largescale
nuclear buildout as envisioned in
the SDS could ramp up demand for chromium,
copper, and nickel. Advanced nuclear
fuel, next-generation reactors, and
small modular reactors, however, could
require other minerals.
Grid Requirements. With spending
picking up to modernize and expand existing
grids, experts across the power sector
worldwide anticipate a large amount
of minerals and metals, including copper
and aluminum, will be used to enhance
the grid. " It is estimated that some 150
[million tonnes (Mt)] of copper and 210 Mt
of aluminum are 'locked in' the electricity
grids operating today, " the IEA said. Under
the SDS, that demand could double.
EVs and Battery Storage. Battery storage,
which is set to grow exponentially
over the next two decades, is notably the
most mineral intensive of all low-carbon
technologies. Lithium-ion batteries used
in EVs and energy storage contain several
minerals in the active cathode material
(for example, lithium, nickel, cobalt,
and manganese), anode (which needs
graphite), and the current collector (which
needs copper). Still, the amount of each
mineral varies depending on the cathode
and anode chemistries.
EV motors are also mineral intensive.
Permanent-magnet motors require rare
earth elements like neodymium, copper,
iron, and boron. While experts generally
expect breakthroughs in EV technologies,
including their batteries, under
the IEA's SDS, nickel demand will grow
41 times, cobalt demand will grow 21
times, and demand for lithium will grow
43 times. Battery demand from EVs will
also need 25 times more graphite, 4,600
times more silicon, and 15 times more
rare earth elements. Utility-scale storage,
meanwhile, will require 140 times
more nickel-from 0.4 kilotonnes (kt) in
2020 to 57 kt in 2040; a 70-fold surge in
cobalt demand; and a 58-fold increase in
manganese to meet demand.
Green Hydrogen. While electrolyzer
technology is still evolving, the IEA pointed
out that existing technologies, including alkaline,
proton exchange membrane (PEM),
and solid-oxide electrolysis cells (SOECs),
will require nickel, zirconium, aluminum,
cobalt, and copper supplies. PEM technologies
are especially mineral-intensive,
requiring platinum and iridium. SOECs will
also need lanthanum and yttrium.
Compounding the supply of this diverse
set of necessary minerals is that
their production, processing, and consumption
is flourishing among a narrow
group of countries (Figure 7), and this
Ensuring Plant Reliability
and Resiliency During Critical
Operations Processes
* Reduce unplanned outages and mitigate risks
* Ensure effective responses to abnormal
conditions
* Boost plant performance throughout the asset
lifecycle
* Achieve higher production goals by connecting
workers and processes
PREVENT. PROTECT. PERFORM.
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POWER September 2021

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