Strategies to Secure Future Mineral Supplies

Exploration and Extraction Strategies

Increased exploration: Governments and companies can invest in the exploration of new mineral deposits across the globe. Technological advancements can aid in discovering new reserves and assessing their viability.
Advanced extraction techniques: The use of cutting-edge technologies and tools can enhance mining efficiency, enabling the extraction of minerals from previously inaccessible or uneconomical deposits.
Deep-sea mining: With advancements in technology, deep-sea mining is becoming an increasingly viable option. It involves the extraction of minerals from the ocean floor, which is rich in several key resources.
Urban mining: This strategy pertains to the extraction of valuable minerals from discards in urban areas, such as electronic waste.

Recycling: Effective recycling programs can reduce the demand for fresh mineral supplies by reclaiming valuable minerals from waste materials.
Mineral efficiency: Minimising waste during extraction and processing, improving product design to use less minerals, and extending product lifespans can reduce overall mineral demand.
Substitution: Finding alternatives for scarce minerals can help secure future supplies. For instance, using graphite or aluminium as substitutes for copper in some applications.

Strategic stockpiling: Governments can secure future mineral supplies by creating reserves of key resources, protecting against market volatility and supply disruptions.
Trade policies: Governments can negotiate trade agreements to ensure a stable international supply of strategic minerals. Trade diversification can reduce dependency on a single supplier.
Research and development support: Governments can incentivise research into new technologies for exploration, extraction, processing, and recycling of mineral resources.

Environmental regulations: Strict regulations and standards can prevent excessive mineral extraction that might lead to environmental degradation, thus ensuring sustainable supplies.
Social responsibility: Mining operations should consider social implications and strive to garner community support. This could involve creating local jobs or investing in local infrastructure, safeguarding the future of mining activities.
Fairtrade mining: Supporting responsibly-mined and fairtrade minerals can help secure future supplies by ensuring that mining activities are sustainable and beneficial for mining communities.