The global race for critical minerals has entered a new phase. Between the energy transition, electric vehicle adoption, the AI capex race, and advanced manufacturing, the demand for metals is growing and becoming a matter of national security.

The latest 2026 UN Trade and Development (UNCTAD) report argues that critical mineral markets are undergoing a structural reconfiguration.

Governments are increasingly deploying export taxes, licensing requirements, and outright bans not merely to protect supplies but to capture more value domestically through processing and manufacturing.

Since 2020, nearly 100 export-related measures affecting critical energy transition minerals have been introduced by producer nations seeking to move beyond their traditional role as raw material exporters.

“Trade policy is increasingly being used to secure access to and participate in critical energy transition mineral supply chains,” the report notes.

At the same time, the mining sector is struggling. Easily accessible deposits are maturing, ore grades are declining, and development timelines are lengthening. The result is a supply-curve pressure at the worst possible moment, when demand is set to explode.

Lithium in the Center

According to UNCTAD calculations based on International Energy Agency data, lithium is ...