The United Nations Conference for Trade and Development (Unctad ) s a y s demand is surging for minerals that are critical for renewable energy technologies such as solar panels, wind turbines and electric vehicles (EVs).

The development, it says, poses significant opportunities for developing countries rich in critical energy transition minerals, especially those grappling with commodity dependence, including Malawi where more than 60 percent of her merchandise export revenue comes from raw materials.

Sovereign Metals miners drill for samples at the mine site in Lilongwe

Unctad observed that such dependence hinders economic development and perpetuates inequalities and vulnerabilities across sub-Saharan Africa, South America, the Pacific and the Middle East.

“Commodities and commodity-dependence are issues at the heart of the past, and especially the future of trade and development,” said Unctad secretary-general Rebeca Grynspan in a statement.

Commodity-dependence currently affects 95 developing countries, almost half of the UN’s membership.

Unctad projections, based on data from the International Energy Agency, indicate that by 2050, for example, lithium demand could rise by over 1 500 percent, with similar increases for nickel, cobalt and copper.

Meanwhile, Unctad has identified 110 new mining projects worldwide, valued at $39 billion, with $22 billion invested in 60 projects in developing countries.

Yet to achieve the 2030 net-zero emission targets, the industry may need around 80 new copper mines, 70 new lithium and nickel mines each, and 30 new cobalt mines.

The investment needed between 2022 and 2030 ranges from $360 billion to $450 billion, potentially leaving a gap of $180 billion to $270 billion.

Meanwhile, graphite flotation and cleaning test-work conducted on graphite circuit feed from Sovereign Metal’s Kasiya Rutile project in Lilongwe, Malawi, has shown superior quality graphite.

The tests also show low impurity graphite, which is ideal for anodes that can be used in car and industrial batteries.

An anode is a negative electrode and is one of the essential parts of a battery, and is used to convert electronic energy into x-radiation, but, also, to dissipate the heat created in the process.

The test-works, according to a report from Sovereign Metals, were completed at multiple independent laboratories in Australia, Canada and South Africa.

Sovereign Metal’s managing director Frank Eagar said in his commentary in the report, that the ability to upgrade Kasiya ore at 1.4 percent graphite to a 55 percent rougher concentrate without any crushing or milling, highlights the unique qualities of the Kasiya mineral.

The post  Critical minerals boom for Malawi, others first appeared on Nation Online.

The post  Critical minerals boom for Malawi, others appeared first on Nation Online.