MENA region can play major role in critical minerals market: Report
The MENA region is at the centre of a rapidly evolving critical minerals market which has significant bearings on the future of energy and global digital transformation, says a new report.
With an expansive trade network and infrastructure, access to low-cost energy and significant investment capital, countries like the UAE and Saudi Arabia are making strategic moves to invest in global mining projects, expand refining capacity, and forge new trade partnerships, says the report titled 'The Critical Minerals Race: Trade, Supply and Transition', the special edition Future of Trade report by DMCC – the leading international business district that drives the flow of global trade through Dubai.
Against this increasingly competitive global landscape, the MENA region is emerging as an increasingly important hub in the supply chain, it says.
The report highlights the unprecedented demand for resources such as lithium, cobalt, nickel and rare earth elements to meet production needs of electric vehicles, renewable energy and next-generation technologies.
The accelerating demand for critical minerals, fuelled by digitalisation, AI and the global energy transition, is reshaping the international trade and investment landscape with projections that 'insatiable demand' for certain minerals could surge to 75 times current levels by 2050, it says.
The report also outlines the structural vulnerabilities in critical minerals supply chains, including geographic concentration of resources, notably in China, Russia, Australia and Latin America, that is compounding trade regionalisation and risks such as geopolitics, resource nationalism and supply bottlenecks.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said: " The demand for critical minerals such as copper, cobalt, lithium, manganese and graphite has reached unprecedented levels, driven by the accelerating need to power key industries – from electric vehicles and semiconductors to energy storage and artificial intelligence. This demand is projected to surge up to 75 times current levels, profoundly reshaping global trade flows, supply chains, and government industrial policies. Within this global race for critical minerals, our latest Future of Trade report highlights the UAE and Dubai's growing role, underpinned by our world-class infrastructure, strategic trade partnerships and ease of doing business that will drive resilience, innovation and growth for global businesses.'
Feryal Ahmadi, Chief Operating Officer, DMCC, added: 'Amid intensifying trade tensions and growing industrial competition, our latest Future of Trade report highlights the pivotal role critical minerals play in shaping the global economy. With cutting-edge insights, expert analysis, and strategic policy and business recommendations, this report offers actionable insights to empower all stakeholders involved in the critical minerals trade. As DMCC continues to build an environment optimised for business growth, we look forward to working closely with our members to navigate these challenges, unlock growth opportunities and strengthen global trade resilience overall.'
The Future of Trade report outlines several key recommendations for governments and businesses to drive the evolution of the critical minerals industry and secure future growth, including:
• Leverage Public-Private Partnerships: Collaborate with private sector partners to unlock mineral reserves, enhance technology capabilities and attract investment.
• Invest in Innovation: Support research into alternative technologies, such as sodium-ion batteries, to reduce reliance on scarce minerals.
• Attract Processing Investments: Capitalise on access to low-cost energy to develop domestic refining capabilities and support industrial growth.
• Manage Supply Risks: Use futures markets, long-term contracts and partnerships with suppliers to reduce exposure to price volatility and supply shocks.
• Develop Downstream Industries: Invest in battery manufacturing, solar cells and renewable technologies to strengthen demand and build industrial ecosystems.
• Support Clear Regulations: Work with policymakers to foster competitive, clear regulations that encourage critical mineral investment.
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