This paper examines economic and geo-political consequences of the current phase of superpower competition to secure access to the critical minerals that are central to the global energy transition, digitalisation, and the AI-led transformation of the global economy. We first review the upstream mining of critical minerals, which takes place primarily in developing countries, before considering downstream elements of critical mineral supply chains, including the central role of China in the processing of these minerals. We discuss the socio-economic and environmental consequences associated with the race for critical minerals and conclude with a discussion of policies that may be deployed to support equitable and sustainable management of these minerals in an era of unprecedented technological and geopolitical uncertainty.
