The Risk of Monopolies in Critical Minerals and Global Supply Security

Today, critical minerals such as lithium, cobalt, nickel, and rare earth elements are of great importance for electric vehicles, batteries, and renewable energy technologies. The concentration of production and processing of these critical minerals, which are fundamental elements of energy transition and technological production, in certain countries creates serious risks for global supply chains.

According to a Euronews report published on May 5, 2026, the OECD emphasized the necessity of diversifying global supply chains to ensure global supply security for critical minerals.

The news report quotes Andreas Schaal, Director of Global Affairs and Cooperation at the OECD, as stating that critical minerals are not only an economic issue but also a strategic one. He notes that today, critical minerals are excessively concentrated in certain geographies at both the production and processing stages, and that a structure exists where one or two countries control a large portion of the global supply of raw materials that are cornerstones of the green transition, such as lithium, cobalt, nickel, and rare earth elements. He also emphasizes that this structure makes the entire global supply chain vulnerable to any geopolitical tensions, natural disasters, or export restrictions.

Another noteworthy aspect of the news is that Istanbul has been considered a strategic center for international dialogue. OECD officials emphasized that Istanbul has historically served as a bridge between Europe and Asia and holds a significant position in global trade. In this context, it is stated that holding the forum on critical minerals in Istanbul has symbolic and strategic significance.

In conclusion, the news report highlights that the OECD's warnings indicate the need for more transparent, fair, and sustainable policies regarding critical minerals in order to ensure global economic stability.

Reference

Euronews. (2026, Mayıs 5). Kritik minerallerde tekel riski: OECD'den küresel arz güvenliği uyarısı. https://tr.euronews.com/business/2026/05/05/kritik-minerallerde-tekel-riski-oecdden-kuresel-arz-guvenligi-uyarisi