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UNCTAD urges mineral source diversification
The United Nations Conference on Trade and Development (UNCTAD) has called for diversifying sources of minerals and accelerating the transition toward a low-carbon economy, amid growing demand for critical minerals such as lithium and graphite. The agency notes that demand for lithium is expected to increase by 353% by 2040. It also pointed out that global supplies are highly concentrated, with Congo controlling 74% of cobalt, Indonesia accounting for 67% of nickel, and China dominating 69% of rare earth elements.
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