According to the IEA, the critical minerals market is experiencing unprecedented growth

The record deployment of clean energy technologies, such as solar photovoltaics and batteries, is driving unprecedented expansion in the mining sector.

Demand for critical minerals for clean energy technologies will increase rapidly in all scenarios, according to the report released by the International Energy Agency (IEA). Despite hurdles in the broader venture capital sector, critical minerals startups raised a record $1.6 billion in 2022. Exploration spending also rose 20% driven by record growth in lithium production. Investment in critical mineral development is estimated to have registered another strong 30% rebound.

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