Scientific and technical developments coupled with a surge in demand in emerging markets for industrial and consumer goods have begun to accentuate current and potential problems with sourcing strategic minerals and metals. This includes materials already in broad usage in major industries (e.g. bauxite) and materials whose usage is expected to grow geometrically and that are linked to significant progressive societal developments (lithium and rare earths). While, in theory, the amount of reserves of these special raw materials may be adequate, their location and ownership, often in underdeveloped nations, is transforming the bargaining powers and interests of various owners, businesses and governments. Some nations and enterprises appear to be grasping the significance of the materials problems and are taking aggressive geopolitical steps to manage their long-term risks. Other nations, such as the US, appear more lackadaisical and are disorganised in their approach and arguably are increasing the risk of negative outcomes to their economic, scientific and diplomatic standing. Nations that will be in the best position are those that are making sober and multipronged assessments of the risks posed by materials shortages and are willing to improve apace to take methodical multilateral steps to address these risks.
