The World Bank said demand for key minerals like copper, lithium, nickel, and rare earths is projected to nearly double by 2040, driven by the clean energy transition (EVs, wind, solar).
According to the World Bank, the surge requires significant new investment (over $500 billion by 2040) and presents opportunities for developing nations, but also necessitates responsible mining, improved governance, and stronger supply chains to meet goals sustainably and avoid negative social/environmental impacts.
The bank says this would result as minerals are essential for modern tech and green energy (smartphones, EVs, batteries, solar panels).
Specifically, lithium demand could rise significantly (e.g., ninefold), while graphite, nickel, and copper demand is also set to double or more.
The World Bank says meeting this demand requires massive investment in extraction, processing, and infrastructure.
No doubt, this offers a chance for mineral-rich nations to diversify, create jobs, and build infrastructure, but requires strong policies and governance.
However, there are challenges. Increased mining poses risks to water resources, ecosystems, and communities, highlighting the need for sustainable practices and recycling.
Consequently, the World Bank supports the “Climate-Smart Mining Initiative” to help countries manage this transition responsibly, ensuring benefits for development while minimizing environmental footprints.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
