FMF2024 Report: $5.4 trillion in mineral investment needed for energy transition by 2035

Emerging markets will require over 40% of investment, reflecting a shift in capital flows

RIYADH, Saudi Arabia, Dec. 4, 2024 /PRNewswire/ — The Future Minerals Forum (FMF) has released its latest Report: “Shaping the Future of Minerals”, offering insights into creating shared value across the mining ecosystem.

 

 

According to Ali Al-Mutairi, Executive Director of FMF, “The Super Region has significant untapped potential in minerals that can drive the energy transition. However, investment of US$5.4 trillion is required to sustain and expand global mining and processing facilities”.

Key insights and the full report are available here.

Contributor quotes include:

Mark Cutifani, Chairman of Vale Base Metals: “Partnerships for shared, durable value creation and commitment to supporting commercial frameworks can go a long way toward meeting and exceeding key stakeholder expectations“.

Ionut Lazar, a Principal Consultant at CRU: “Collaboration across sectors is essential to meet global decarbonization targets. It is a global, multi-stakeholder challenge that requires strategic collaboration, especially if we want to move at pace and achieve the desired scale”.

Patrick Barnes, Global Head of Metals and Mining Consulting, Wood Mackenzie: “Value addition can provide countries with increased GDP, more fiscal revenue from a larger tax base, increased export earnings and creation of jobs. But countries cannot afford to proceed blindly. Their plans have to take into account market dynamics, costs and benefits if they want to realise value“.

Peter Bryant, Co-Founder and Board Chair, Development Partner Institute and Board Chair, Clareo: “Companies are taking on the responsibility of creating shared value, collaborating with new partners and at a deeper level. Government plays a key role in creating shared value by providing the springboards to investment and not being overly prescriptive.”

Dr Michelle Michot Foss, fellow in energy and minerals, Baker Institute, Rice University: “While the mining industry can do much to help build and boost local and regional benefits, responsibilities lie with government jurisdictions to ensure that benefits linked to economic rents are allocated in ways that build trust“.

Richard Rothenberg, Chief Executive Officer, Global AI Corporation: “As the demand for critical minerals continues to grow, policymakers and investors should prioritize sustainable practices, community engagement, and transparent governance to ensure long-term success and positive public perception“.

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