The curse of resources is not inescapable. Neither is that of critical minerals

China’s quasi-monopoly and the race of powers for cobalt, uranium and rare earths threatens to deepen inequality in the producing countries if their institutions are not strengthened.
The world’s superpowers have developed a seemingly insatiable appetite for critical minerals that are essential to the ongoing energy and digital transitions, including rare earth metals (for semiconductors), cobalt (for batteries), and uranium (for nuclear reactors). According to forecasts by the International Energy Agency, demand for these minerals will have more than quadrupled by 2040, just for use in clean energy technologies. But in their race to control these vital resources, China, Europe, and the United States risk causing serious damage to the countries that possess them.

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