Daily Digest for

The British Geological Survey (BGS) released the latest volume of World Mineral Production, providing data on over 70 mineral commodities from 2019 to 2023.

• Reports challenges in data collection due to geopolitical instability in the Middle East, Ukraine, South America, and Central Africa.
• Highlights China’s dominant role in supplying key minerals for green energy tech, including graphite, refined gallium, and germanium, with export restrictions impacting trade dynamics.
• Notes significant decreases in production of tungsten (globally down 15%, China down 18%) and mercury (down 45%) over five years.
• Lithium, nickel, and cobalt production increased notably in 2023, linked to lithium-ion battery demand, with lithium up 30%, cobalt up 23%, and nickel up 15% in the last year alone.
• UK Critical Minerals Intelligence Centre (CMIC) actively supports analysis and foresight on critical minerals supply security.
  The report underscores global mineral supply shifts critical for green energy technologies and calls attention to international trade and security concerns affecting production and availability.

The National Bureau of Economic Research (NBER) published a working paper analyzing the impact of Carbon Border Adjustment Mechanisms (CBAMs).

• CBAMs are being implemented by the European Union and the United Kingdom, targeting emissions-intensive and heavily traded sectors like aluminum and steel production.
• The mechanisms aim to boost domestic competitiveness, reduce emissions leakage, and encourage carbon taxation globally.
• The study uses a quantitative equilibrium model and plant-level data worldwide to assess impacts.
• CBAM can avoid disproportionate negative impacts on lower-income trading partners while achieving environmental and economic goals.

This study provides evidence on the effectiveness of CBAMs for regulating carbon emissions in international trade and supporting global climate regulation efforts.