The challenges most countries are facing right now are daunting. Not only do they need to have a plan for recovering from covid-19, the supply chains that have been interrupted or broken by the virus have to be repaired.
On top of the covid crisis there is a climate crisis, and for lack of a better term, a “technology” crisis. Governments must make funding available for 5G networks so that businesses are not left behind as the world moves more into digitization and automation which require robust internet and cellular infrastructure.
The fossil-fueled based transportation system needs to be electrified, and the switch has to be made from oil, gas and coal-powered power plants to those which run on solar, wind and thorium-produced nuclear energy. If we have any hope of cleaning up the planet, before the point of no return, a massive decarbonization needs to take place.
In a recent report, commodities consultant Wood Mackenzie said an investment of over $1 trillion will be required in key energy transition metals over the next 15 years just to meet the growing needs of decarbonization.
On top of surging demand for metals needed to feed so-called “green infrastructure” programs designed to lift sagging economies out of the pandemic, we have current and emerging structural deficits for a number of metals, that will keep prices buoyant for the foreseeable future.