Critical minerals and clean energy applications: The role of innovation across the supply chain

Critical minerals such as lithium, cobalt, nickel, copper, graphite and rare earth elements are poised to play an increasingly important role in environmental sustainability, emerging technology and defense applications. Innovation can play a vital role in reducing primary demand for them while reducing associated supply chain risks and providing benefits for the environment and human health. This paper examines the intersection of technological innovation, critical raw materials and economic policy. It draws on a review of academic and non-academic literature to analyse the key drivers of innovation in the critical raw material supply chain, as well as how innovation might help drive the reforms needed to establish more secure supply networks and sustainable business practices. It then develops a conceptual framework for categorising innovation across the value chain and types of innovations before assessing emerging policy challenges and opportunities for governments.