Technology metals

Technology metals include a diverse range of elements (for example, rare earth elements, cobalt and lithium) that are essential for many applications, including low-carbon and digital technologies. Technology metals are typically produced in small quantities in comparison to common industrial metals such as copper, lead and zinc (Figure 1); however, their value is not insignificant. They are characterised by a heightened risk of supply disruption, their low-recycling rates and their poorly understood flows, and are subject to rapidly increasing demand. These characteristics often lead to these metals being deemed 'critical', with bottlenecks appearing at several stages of their supply chains.

Figure 1 Global production of metals and ores. Figures for iron (Fe), chromium (Cr), manganese (Mn), zirconium (Zr) and gold (Au) are based on production of gross ore. Figures for magnesium (Mg) and aluminium (Al) are based on refined metal production. Figures for all other metals are mine production based on metal content. All figures are based on data from Idoine et al. (2023). All figures are rounded.

Technology metals in detail

Lithium

Lithium (Li) is a soft, silvery-white alkali metal. It is the lightest metal and the least dense of all the elements that are not gases at 20°C and can float on water. Its physical and chemical properties make it useful in many chemical and metallurgical applications, for example lubricating greases, ceramics and glass, aluminium production and batteries, which are essential for the energy transition.

Cobalt

Cobalt (Co) is a lustrous, greyish-silver, brittle metal. It is ferromagnetic and able to form alloys with many other metals and to maintain its magnetic properties at high temperatures. Cobalt is used in both metallurgical and chemical applications. As it is used in the production of the cathode in rechargeable batteries , cobalt is essential for the energy transition.

Rare Earth elements

The rare earth elements (REEs), also known as the lanthanides (although yttrium and scandium are also usually included in the group) are a set of 17 nearly indistinguishable lustrous, silvery-white, soft, heavy metals. The elements neodymium, dysprosium, terbium and samarium are essential components for permanent magnets. The REE supply chain is complex and fraught with many bottlenecks.

Case studies of technology metals in products