Earthly Essentials

The rush for rare minerals is heating up.

The global race for rare minerals has intensified, with China dominating the market and the U.S. preparing strategic countermeasures.

“If countries want to catch up with China, they have to make sure government policies are there to support new entrants, both in terms of mining and refining,” says Fatih Birol, executive director of the International Energy Agency (IEA).

According to the IEA, supplies of critical minerals are increasingly concentrated in a handful of countries, raising the risk of disruption as export bans and tariffs proliferate. Under its current administration, the U.S. is pushing to secure mineral rights worldwide, enabling the State Department to forge deals that would strengthen U.S. industry and defense.

With demand for minerals like cobalt, copper, graphite, lithium, nickel, and rare earth elements up significantly over the past few years, the vulnerabilities of global supply chains are more apparent than ever. At the same time, these shifts open new opportunities for ESG investments.

The Opportunities for ESG Investments

• Renewable Energy Technologies: Critical minerals are essential for renewable energy technology, including solar panels, wind turbines, and electric vehicles.

• Sustainable Mining Practices: Capital directed toward sustainable methods can help mitigate environmental and social impacts.

• Diversification Efforts: Supporting diversification can help reduce reliance on dominant suppliers and promote farrier distribution of resources.

As demand continues to climb, addressing supply chain vulnerabilities and trade restrictions is crucial. By investing in sustainable mining, diversification, and ESG-driven initiatives, companies can mitigate risks while capturing the growth potential of the critical minerals sector.

Ibe Imo (Journalism ’25) covers venture capital, responsible Al, data privacy, sports, and wholesale and consumer finance at Merie Studios. He’s a business leader and technology professional at a Fortune 100 company. At Harvard Business School's independent student publication, he leverages his unique blend of storytelling and computer science expertise to empower business and technology leaders to optimize opportunities. Previously, Ibe managed the fintech and regulatory reporting newsletter at PwC's U.S Banking & Capital Markets advisory group. At Accenture in Silicon Valley, he led global social media campaigns, empowering people to unlock value and support equitable opportunities.