The security of critical mineral supply chains

Abstract

Critical minerals are the cornerstone of the new round of the industrial revolution. The global division of labor established under the traditional technology, industry, and trade systems is facing a significant restructuring. Global economic and technological changes will lead to a long-term increase in demand for critical minerals. The critical minerals supply chain is rife with political interference and distorted trade practices compared to the robust resource demand. It faces several challenges that threaten the sustainability of the supply chain. We analyze the evolving security connotation of critical minerals supply chains. We also provide an overview of research on quantifying risks of critical minerals from two aspects: security evaluation mechanism and global value chain. The interdisciplinary research techniques and methods are more adapted to the new trends of international competition in critical minerals. The article reviews relevant security risk identification and response research in critical minerals supply chains. It analyzes how to address the risk challenges from national strategies. Finally, the article explores new trends under new technological revolution and industrial change.