BAKU, Azerbaijan, June 12. Global trade in critical minerals is accelerating as demand rises for clean energy, electrification, and digital technologies, according to the UN Conference on Trade and Development (UNCTAD). The recent energy crisis, exacerbated by the US–Israel conflict on Iran, has highlighted energy security as a key geopolitical issue.
TurkicWorld reports that UNCTAD’s June 2026 Global Trade Update emphasizes that copper, nickel, lithium, cobalt, and rare earth elements are central to industrial policy, development strategies, and geopolitical competition. These minerals are vital for electric vehicles, battery storage, renewable energy technologies, semiconductors, and data centres.
Lithium demand is projected to increase by over 350 percent by 2040, while graphite demand could rise by more than 130 percent. Australia, Chile, and China produce over 70 percent of global lithium, with China dominating the refining of several critical minerals.
