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China has the largest reserve of rare earth minerals and it dominates the world market as almost all countries are dependent on it to fulfil their need for the critical rare minerals. Now other major countries like the United States and Japan are also searching for these rare minerals on their lands to fulfil their needs. The global demand for electric vehicles (EVs) powered by lithium-ion batteries is increasing rapidly amid the rising petrol prices. The Chinese companies have established a dominance in the battery world. Amid all this scientists have stated that graphite has become a new critical mineral which is the backbone of the lithium battery industry. While China possesses the world’s largest graphite reserves India also announced its recent major discovery of graphite reserves. Why Graphite Is Has Become The Critical Metal? As per a report recently published by Journal Nature graphite is the backbone of the lithium-ion batteries and because of its use in the batteries it has become a new critical mineral. As the world is moving towards clean energy the demand of graphite is increasing day by day. Notably natural graphite is concentrated in very less locations and increasing production is difficult. This is creating global supply constraints. Consequently synthetic graphite which is more pure and performs well is increasingly used globally. However its production consumes a significant amount of energy which is majorly derived from fossil fuels. This process makes it unsuitable for the environment.
