Dealing with Shortages of Critical Materials

OVERVIEW:

Critical metals are high-value elements used in very small amounts that provide key functionality to technology products. These metals are crucial for the functioning of a technological society. Certainty of supply is a growing concern. As of this writing, China produces over 95 percent of the world's rare earths and over 80 percent of the world's tungsten and magnesium. This article examines the methodologies firms use to identify and communicate potential shortages of critical metals, formulate risk mitigation strategies, and act to reduce risk by reducing demand.

KEYWORDS::

• Rare earths
• Supply chain
• Critical metals
• Alliances/collaborations
• Risk management