How Many New Mines Are Needed for the Energy Transition?

What We’re Showing

This graphic forecasts the number of mines that need to be built to meet the expected demand for energy transition raw materials and chemicals by 2030.

This data comes exclusively from Benchmark Mineral Intelligence as of November 2024. 

Key Takeaways 

• Meeting global battery demand by 2030 would require 293 new mines.
• Copper, used in wires and other applications, and lithium, essential for batteries, will require the greatest number of new mines.
• Manganese production would need to increase more than fourfold to meet the anticipated demand.
• It takes nearly 29 years to develop a new mine in the U.S. In contrast, Ghana, the Democratic Republic of Congo, and Laos have some of the shortest development times in the world, at roughly 10 to 15 years.