The global transition to a low-carbon economy has reignited a familiar struggle over control of raw materials.
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In previous eras, when other raw materials were viewed as equally critical for industrialisation (cotton, rubber, iron, oil, etc.), colonial powers ensured that they extracted them from compliant countries for their own benefit, with local elites often benefiting along the way.
The (mal)governance of raw materials such as these even led to the resources being seen as a ‘curse’. In the present day, the scramble for critical minerals has many of the same features – imperial powers seeking to take control of the resources for their own benefit. History seems to be repeating itself.
The US’s new proposed trading club for critical minerals, in conjunction with…
