Technology metals include a diverse range of elements (e.g. 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, they are also subject to rapidly increasing demand. These characteristics often lead to these metals being deemed as critical, with bottlenecks appearing at several stages of their supply chains.
Figures for Fe, Cr, Mn, Zr and Au are based on production of gross ore. Figures for Mg and 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 BGS World Mineral Production. All figures are rounded.
Technology metals in focus
Lithium
Lithium (Li) It is a soft, silvery-white alkali metal. It is the lightest metal, 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. Cobalt 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. Cobalt is used in the production of the cathode in rechargeable batteries and is therefore essential for the energy transition.
Rare Earth elements
The rare earth elements (REE), or the lanthanides (though yttrium and scandium are usually included as rare earths) 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 is fraught with many bottlenecks.
