DMCC Report Highlights Critical Minerals Race and MENA's Rising Role in Global Trade
The surging demand for critical minerals, driven by digitalisation, artificial intelligence, and the global energy transition, is reshaping international trade, with projections indicating a potential 75-fold increase in demand by 2050.
DMCC's latest Future of Trade special edition report, The Critical Minerals Race: Trade, Supply and Transition , explores this rapid shift, highlighting the growing need for lithium, cobalt, nickel, and rare earth elements. These minerals are essential for electric vehicles, renewable energy, and next-generation technologies. However, supply chain vulnerabilities, including geographic concentration in China, Russia, Australia, and Latin America, pose significant risks such as geopolitical tensions, resource nationalism, and supply bottlenecks.
Amid this evolving landscape, the MENA region is emerging as a key player in the critical minerals supply chain. Countries like the UAE and Saudi Arabia are leveraging their trade networks, infrastructure, and investment capital to expand refining capacity, invest in mining projects, and forge new partnerships. This strategic positioning strengthens their role in the global energy transition and digital transformation.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasised the unprecedented demand for minerals like copper, lithium, and graphite, stating: 'This demand will profoundly reshape global trade flows and supply chains. The UAE and Dubai's growing role—supported by world-class infrastructure and strategic partnerships—will drive resilience, innovation, and growth for global businesses.'
The report offers key recommendations for governments and businesses, including public-private partnerships, investment in alternative technologies, enhancing domestic refining, managing supply risks, and fostering industrial growth.
With over 2.5 million downloads across its editions, the Future of Trade report continues to serve as a vital resource for industry leaders and policymakers. The full special edition report is available on their website.
News Source: Dubai Media Office
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
5 days ago
- Arabian Business
Dubai Crown Prince Sheikh Hamdan visits world's largest diamond tender facility
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, visited the DMCC, the leading international business district that steers the flow of global trade through Dubai, exploring of the Dubai Diamond Exchange (DDE), the largest diamond tender facility in the world. Sheikh Hamdan's visit occurred at the same time as a defining moment for the UAE's diamond industry, as DMCC announced the milestone of over 1 billion carats of diamonds traded over the past five years, strengthening its position as the dominant force in global diamond trade. Hamdan bin Mohammed visits Dubai Multi Commodities Centre (DMCC), the leading international business district driving global trade through Dubai, and tours the Dubai Diamond Exchange (DDE), the world's largest diamond tender facility. — Dubai Media Office (@DXBMediaOffice) June 2, 2025 Throughout the trip, Sheikh Hamdan was accompanied during the visit by Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications. Sheikh Hamdan was also welcomed by Dr. Hamad Buamim, Chairman of the Board of DMCC; Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC; and Feryal Ahmadi, DMCC's Deputy Chief Executive Officer and Chief Operating Officer. Dubai's diamond exchange showcased The Dubai Crown Prince visited the Dubai Diamond Exchange tender floors, where he was briefed about the trade practices in place for diamonds, lab-grown stones and other gemstones. He also received information on DMCC's comprehensive diamond ecosystem, including the strategic expansion of the Gemological Institute of America (GIA) into DMCC's new district, Uptown Dubai. 'The visit provided the opportunity to see first-hand how DMCC continues to play a central role in driving global trade and investment flows to Dubai, positioning the emirate as a world-class business hub. As we advance our economic diversification journey under the Dubai Economic Agenda D33, DMCC is leading the way in building high-performance, globally connected ecosystems that attract innovation, talent and capital across priority sectors,' Sheikh Hamdan said in a statement. He was also updated on the regulatory, policy and infrastructure advancements that have driven the UAE to become the leading hub for rough diamond trade worldwide. His Highness was also briefed on DMCC's latest regulatory, policy, and infrastructure advancements that have positioned the UAE as the world's leading hub for rough diamond trade. — Dubai Media Office (@DXBMediaOffice) June 2, 2025 The rapid growth of the UAE in polished and lab-grown sector, added united with its leadership role as both Chair and Custodian Chair of the Kimberley Process, has positioned Dubai as a progressive, forward-thinking, and globally trusted centre of excellence for the diamond industry. Alongside the visit, DMCC announces Strategy 2033, an ambitious roadmap that places its specialised industry ecosystems at the centre of its growth over the next decade. From globally recognised hubs in diamonds, gold, and energy to forward-looking platforms in AI, Web3, blockchain, and gaming, the strategy aims to drive the expansion of key international sectors. It does so through a suite of value-added services, including customised licensing options, state-of-the-art infrastructure, and streamlined access to capital and industry expertise. Built on a proven model that has positioned DMCC as one of the world's most dynamic and fastest-growing free zones, Strategy 2033 leverages this strong foundation. Surging trade ecosystems With growing momentum across all areas, DMCC is set to surpass 26,000 member companies by year-end. DMCC's success is due to the consistent expansion of both legacy and frontier sectors. Over the past five years, the precious stones ecosystem has climbed by 177 per cent, precious metals by 74 per cent, and energy by 72 per cent, while the coffee and tea trade continue growth. Meanwhile, DMCC's newer technology ecosystems have accelerated, mirroring Dubai's rise as a global centre for innovation. This has coincided with a period of stable growth for DMCC, which now makes up 15 per cent of Dubai's foreign direct investment and 7 per cent of its GDP. Sheikh Hamdan's visit also highlighted the further transformation of the Jumeirah Lakes Towers (JLT) and Uptown districts into flourishing business and lifestyle destinations. Today, DMCC is home to over 25,000 companies and has recently seen mounting growth from new industries such as Web3, crypto, gaming and AI. Towards the end of his visit, he received a luxury edition of DMCC's 2024 Future of Trade report, which describes the shifting dynamics of international commerce and predicts key trends shaping global markets. 'It was an honour to welcome His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum to DMCC and the Dubai Diamond Exchange today. This visit is a powerful endorsement of DMCC's role, not only in positioning the UAE as the global leader in diamond trade, but also in advancing Dubai's position as a centre of excellence across a wide range of future-focused industries,' Dr. Hamad Buamim, Chairman of the Board, DMCC said. 'Through long-term investment, bold policy frameworks and a commitment to international partnerships, DMCC has built an ecosystem that enables growth across commodities, technology, services and innovation. As Dubai accelerates the goals of D33, our integrated model will continue to be central to attracting global business and reinforcing Dubai as a leading hub for international trade,' he added. 'It was a privilege to welcome His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum to DMCC at this historic moment for our diamond industry. As we continue to scale our impact through our world-class districts of JLT and Uptown Dubai, attract global institutions, and lead industry dialogues across sectors, DMCC is shaping the future of trade from the heart of Dubai. From precious stones and energy to emerging fields such as AI, Web3 and blockchain, we are building the connected, future-ready ecosystems that global businesses need to thrive – and expecting to surpass 26,000 companies this year,' Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, explained further adding that by driving innovation, integrity and sustainable growth, 'DMCC is proud to support the national economic agenda and continue to cement Dubai's status as a world-leading hub for trade and commerce.' Feryal Ahmadi, Deputy CEO & Chief Operating Officer, DMCC, added: 'From transforming the global tender landscape in diamonds to advancing growth in Web3, AI and sustainable trade, DMCC is building the next generation of global commerce. His Highness' visit is a strong validation of DMCC's Strategy 2033 that will elevate our future-ready, connected ecosystems to ultimately support innovation, ensure resilience and deliver long-term value. As international markets evolve, Dubai is perfectly positioned to meet the needs of businesses, investors and entrepreneurs across sectors, reinforcing its reputation as a dynamic, responsible and forward-looking global hub.' Leading global diamond hub Since 2021, the UAE has rapidly expanded its presence and led the world in rough diamond trade and polished and lab-grown segments. Polished diamonds now represent nearly half of the total diamond trade value, while the lab-grown segment has exceeded AED 3.7 billion in trade in the past year. DMCC has been instrumental in establishing Dubai as a leading global hub for the diamond and precious stones industry. Anchored by the Dubai Diamond Exchange (DDE) and a thriving ecosystem of over 1,350 member companies, DMCC has developed the specialised infrastructure, regulatory framework, and international networks necessary to facilitate smooth and efficient trade across all segments of the diamond market. In 2024, the DDE hosted 85 tenders, emphasising its crucial role as a hub for the global diamond community. This position is strengthened by the presence of the Kimberley Process Office, the DMCC Vault and a suite of high-impact networking and industry initiatives, including the Tender Best Practice Forum, all of which uphold the highest standards of security, compliance and market engagement. The expansion of globally renowned institutions like the Gemological Institute of America (GIA) into Uptown Dubai further enhances the city's comprehensive offering, reinforcing its position as a world-leading hub for the diamond trade across every stage of the value chain. The DMCC continues to serve as a key driver in shaping the future of global trade across a wide range of sectors. With a significant community of over 25,000 member companies from 180 countries, it offers world-class infrastructure, regulatory frameworks, and tailored industry ecosystems that foster growth in commodities, financial services, and emerging technologies. Through specialised hubs such as the DMCC Crypto Centre, Gaming Centre, AI Centre, and Tea and Coffee Centres, DMCC is not only solidifying Dubai's position as a nexus for both traditional and digital trade but also powering the next wave of enterprise, innovation, and global business.
Hi Dubai
6 days ago
- Hi Dubai
Dubai Duty Free Posts Record-Breaking Dhs724.7 Million in May Sales
Dubai Duty Free recorded a strong performance in May 2025, reporting sales of Dhs724.7 million (US$198.5 million) — the highest monthly figure so far this year and a 12.5% increase over May 2024. The figures mark May 2025 as the second-highest sales month ever outside the peak December period, trailing only behind November 2024. Year-to-date revenue has now surpassed Dhs3.5 billion (US$1 billion), reflecting a 6.5% growth compared to the same period last year. Managing Director Ramesh Cidambi attributed the robust performance to consistent category-wide growth and the dedication of the retail team. According to internal estimates, May sales outpaced passenger traffic growth by 7–8%, with daily averages hitting Dhs23.3 million (US$6.38 million). Customer engagement metrics also improved significantly. Penetration rose to 28% from 26.3% in May 2024, and average spend per departing passenger climbed to US$46.7, up US$3 year-on-year. Confectionery led product category gains with an 81% surge in sales, totaling Dhs73.9 million (US$20.2 million), largely driven by the popularity of 'Dubai chocolate.' Perfumes posted a 15% increase to Dhs132.8 million, while cosmetics rose 10.8%. Sales of cigarettes and tobacco, gold, precious jewellery, liquor, electronics, and fashion also saw notable year-on-year growth. Sales by location showed strong gains, with Concourse B in Terminal 3 leading at 17.5% growth. Terminal 2 Departures posted the highest percentage increase at 20.8%, while refurbished Arrivals shops saw a 6.25% uptick. Regionally, all key passenger markets contributed positively, with Europe up 25.9%, and the Middle East and Russian region each posting 14% increases. News Source: Dubai Media Office
The National
6 days ago
- The National
Sheikh Hamdan tours Dubai Diamond Exchange
, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, visited Dubai Diamond Exchange on Monday. Sheikh Hamdan made the visit as part of a tour of Dubai Multi-Commodities Centre, which hosts the exchange that recently reached the milestone of trading more than one billion carats of rough and polished diamonds over the past five years, the emirate's media office reported. 'The visit provided the opportunity to see first-hand how DMCC continues to play a central role in driving global trade and investment flows to Dubai, positioning the emirate as a world-class business hub,' said Sheikh Hamdan. 'As we advance our economic diversification journey under the Dubai Economic Agenda D33, DMCC is leading the way in building high-performance, globally connected ecosystems that attract innovation, talent and capital across priority sectors.' Sheikh Hamdan visited the Dubai Diamond Exchange's tender floors, where he was informed about the trade practices in place for rough and polished diamonds, coloured gemstones and lab-grown stones, the media office added. He also received updates on DMCC's diamond ecosystem, including the expansion of the Gemological Institute of America into DMCC's new district, Uptown Dubai. Along with the visit DMCC unveiled its Strategy 2033, which places specialised industry ecosystems at the heart of its growth for the coming decade. These sectors include hubs in diamonds, gold and energy, as well as platforms for AI, Web3, blockchain and gaming.
