News in numbers
The net-zero transition is projected to demand an average annual spending of $9.2trn across all industries globally by 2050
STEEL
on average, and steel production accounts for about 8% of global CO2
75% of steel made from high-emissions plants This means 1t of steel results in 1.8t of CO2 emissions
In a net-zero scenario, the global demand for steel would increase modestly and be about 10% higher in 2050 than today, with production shifting almost
100% to low-carbon steel Source: McKinsey
Announced projects for production of primary steel with or in transition to near zero emissions in 2030 and gap with net-zero scenario
150
Other Asia Pacifi c 36%
emissions,
CRITICAL MINERALS
Anticipated investment in mining of critical minerals by region in the net- zero scenario 2022–2030
China 4% Rest of the World 10%
Central & South America 21%
Africa 10% North America 6% Source: IEA
Required investment to meet materials demand in the net-zero scenario 2022–2030
Lithium Investment Gap: 2% 100 60MT Lithium Announced: 2% Nickel Announced: 17% Europe 13%
50
31MT 16MT 12MT 0
Near zero emission (estimated)
Europe 12 MT
Rest of the World 1MT
Source: IEA
Near zero emission capable
Europe: 31MT
North America 3MT Asia 6MT
Rest of the World 16MT
Gap with NZE Scenario
Total 60MT Source: IEA Copper Announced: 26%
Copper Investment Gap: 36%
Nickel Investment Gap: 16%
Cobalt Announced: 1%
Cobalt Investment Gap: 0%
World Mining Frontiers /
www.nsenergybusiness.com
7
Million/tonnes
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