Abstract
Guaranteeing a secure, steady, and diversified supply of critical raw materials (CRM) has become a global policy priority. CRM supply is subject to different risks, which endanger the continuity of industrial activities. Understanding and anticipating CRM supply chain disruptions and risks may minimise their effects. To reduce the impacts of CRM supply risks, adopting different types of strategies is necessary. These strategies can be classified into seven groups: (i) innovation; (ii) advanced manufacturing; (iii) reuse and recycling; (iv) domestic mining and metallurgy; (v) purchasing and other company actions; (vi) national strategies and planning; and (vii) cooperation. Each strategy has advantages and disadvantages, and some must also overcome a number of challenges. No single CRM supply chain risk mitigation strategy can eliminate all CRM risks on its own. The strategies should be tailored to each specific situation mainly because each territory/company differs in its strategic foci. There is not, therefore, a one-size-fits-all solution. Strategies are interconnected, and sometimes, the disadvantages of one strategy are countered by the benefits of other additional strategies. Additionally, governments may collaborate with companies, which play a key role in mitigating CRM risks. The analysis in this chapter leads to six policy implications on which companies and governments must work: (i) guaranteeing a steady flow of capital to investment in CRM projects; (ii) developing new knowledge and skills; (iii) increasing transparency for the social acceptance of CRM projects; (iv) spurring targeted innovation programs; (v) cooperating across value chains and sectors, and partner countries and regions; and (vi) ensuring coherence with industrial and environmental policies.
- How to cite: Larrea-Basterra, M., Fernández-Gómez, J. and Mosquera-López, S. (2026). The challenge of supplying critical raw materials. Boletín Geológico y Minero, 137(2), 009. https://doi.org/10.21701/bolgeomin/137.2/009
