{"id":81623,"date":"2023-09-29T02:11:48","date_gmt":"2023-09-29T02:11:48","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81623"},"modified":"2023-09-29T02:11:48","modified_gmt":"2023-09-29T02:11:48","slug":"what-role-will-mining-companies-play-in-the-energy-transition","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/what-role-will-mining-companies-play-in-the-energy-transition\/","title":{"rendered":"What Role Will Mining Companies Play in the Energy Transition?"},"content":{"rendered":"

The current energy transition is set to be one of the most significant undertakings in human history.\u00a0<\/span><\/p>\n

The world relies on about <\/span>100 million<\/b> barrels of oil and the equivalent of <\/span>70 million<\/b> barrels of gas per day to keep its economies ticking over. <\/span>Replacing this seamlessly with sources of renewable energy will be an epic challenge.<\/span><\/p>\n

The task will go beyond a shift in fuels \u2013 where we essentially just \u201cburn something different\u201d \u2013 to involve entirely new technologies. These technologies will be designed for carbon-free energy production and distribution. <\/span>Paradoxically, at the heart of both the <\/span>problem and solution<\/b> are our energy and mining companies.<\/span><\/p>\n

As the world has transformed its fuel sources from biomass (mainly wood) to coal and then oil and gas, industries that provide the world with the energy it needs have popped up. <\/span>But this has also created a future problem regarding Greenhouse gasses.\u00a0<\/span><\/p>\n

Although the mining process can be damaging to the environment if not managed well, the practice is vital to unearth the resources we need to continue daily progress while also shifting to new technologies. <\/span>And as we know, these innovations require a wealth of rare critical minerals that only large-scale mining companies can provide.\u00a0<\/span><\/p>\n

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Critical Minerals to Drive Global Electrification<\/strong><\/h2>\n

The demand for critical minerals, including graphite, lithium and cobalt, is predicted to rise by multiples and up to 500% in the coming decades. <\/span>With global agreements to target <\/span>net zero<\/b> carbon emissions by 2050 and critical minerals a crucial part of electrified technologies, the spotlight is on mining companies to deliver the goods.<\/span><\/p>\n

Meeting this massive uptick in demand will put miners under strain to explore and expand safely and sustainably. <\/span>However, the mining industry is making great strides in improving its practices from those of yesteryear.\u00a0<\/span><\/p>\n

This point is critical, as raw materials generated by the mining sector will be central to building out the electrified technologies that the energy transition will rely on.\u00a0<\/span>For example, an Electric Vehicle battery can contain almost 200 kilograms of unique metals, including:<\/span><\/p>\n