As electrification and digitalization accelerate, the supply of minerals and metals needed for electric vehicles (EVs), data centres and power grids is under increasing pressure. Demand is rising faster than new mining and refining capacity, refining is concentrated in a few regions and new trade policies add more uncertainty. Many companies still lack clear visibility into their mineral dependencies and shared risks. This paper, produced under the Future-Proofing Global Value Chains initiative of the World Economic Forum in collaboration with Kearney, tracks the key minerals required across these value chains and suggests how to strengthen their supply chains.
Using market data and insights from over 65 industry leaders, it maps how mining, refining, components and end products are interconnected, identifies major vulnerabilities and highlights early-warning signals. It also outlines collaborative strategies to build resilience – expanding and diversifying supply, improving efficiency, using substitutes and strengthening circularity. It emphasizes the need for better data, common standards and collaboration to move from fragmented awareness to coordinated action.