Recycling could plug the gap in the European Union’s (EU) needs for lithium, rare earth and other metals needed to cut carbon emissions.
The study indicated that the global energy transition is progressing fast and that copper, cobalt, lithium, nickel, and rare earth metals are all at risk of disruptive demand-pull between now and 2035.
The EU’s pledge to cut net greenhouse gas emissions to zero by 2050 will require large amounts of metals and minerals to roll out electric vehicles (EVs) and wind turbines.
It is understood that rare earth metals are also used in the manufacturing of microprocessors, microcontrollers, and semiconductors in cars. Modern cars use anywhere between 1,500 and 2,000 chips installed. EVs reportedly use up to 3,000 chips in their circuit boards.
The study also said that the bloc will need 35 times more lithium and seven to 26 times more rare earth metals by 2050 to be used in EV batteries and motors, respectively.
Recycling will help ease shortages, but only from about 2040 when there is enough material from scrapped vehicles and other equipment such as wind turbines.
By 2050, 40 per cent to 75 per cent of Europe’s clean energy metal needs could be met through recycling if Europe invests heavily now, the study said, the Reuters News Agency reported.
