Optimal strategies of critical mineral depletion and recycling

• Published in: Resources, conservation and recycling conservation and recycling, 2024-10, Vol.209, p.107793, Article 107793
• Main Authors: Ruan, Weihua, Zou, Benteng
• Format: Article
• Language: English
• Subjects: Critical mineral; decision making; Differential game; Import and export; international cooperation; markets; Recycling; resource allocation; supply chain; sustainable technology
• ISSN: 0921-3449
• DOI: 10.1016/j.resconrec.2024.107793

Critical minerals play a crucial role in making eco-friendly and sustainable technology a reality. Yet, these essential minerals face challenges such as disruptions in their supply chain, dwindling availability, limited recycling methods, and uncertain demand, which may increase in the short term. In this study, we explore how we can better extract and recycle these important minerals through international cooperation and precommitment among different countries. Our findings highlight a few key points: (1) While recycling technology can help reduce reliance on virgin minerals, it cannot fully replace the need for them, as recycling still depends on limited resources. (2) When deciding how to distribute these minerals in the market, international cooperation should consider both virgin and recyclable sources, prioritizing the more globally desirable option. (3) If the recyclable sources are being used up, it becomes challenging for a supranational decision-maker to decide how to best use the remaining virgin minerals. (4) With precommitment from both virgin resource suppliers and recyclers, both recycled and virgin resources can be used together until the virgin ones are completely used up. In simpler terms, securing these crucial minerals for sustainable technology involves complex decisions about recycling, resource allocation, and cooperation among nations. [Display omitted]