Critical Minerals Demand: Energy Transition Only 26% of 2024 Consumption

Oakland Institute analysis using IEA data finds that energy transition technologies accounted for only 26% of 2024 demand for key critical minerals, with the rest driven by construction, transport, and industry. This challenges the narrative that mining expansion is primarily for decarbonization, potentially affecting policy and investment decisions. The claim is based on a single analysis and may be contested by industry.