Tool Tracks Minerals Availability and Production Costs; Additional Tools to Come
GOLDEN, Colo., Dec. 09, 2024 (GLOBE NEWSWIRE) — The Payne Institute for Public Policy (Payne) at Colorado School of Mines (Mines) is creating a series of user-friendly critical minerals analytical tools.
The tools, being developed in cooperation with the Mineral and Energy Economics program at Mines, offer detailed information about the availability, cost, and demand for minerals integral to global efforts to transition to low carbon energy and transport systems.
“We are making these tools available to help inform investment and policy decision making,” said Morgan Bazilian, Director of the Payne Institute. “A clear understanding of critical mineral availability and cost are key factors for both energy and national security. Mines is uniquely positioned to offer such insights.”
The tools provide details on the reserves and the respective estimated cost to produce seven base metals and critical minerals. Users can see reserves of these metals and minerals by country as well as globally.
An illustration of these products was first offered in Payne’s 2024 State of Critical Minerals Report, in which it was highlighted that nickel’s “cost curve” is four times steeper than that of cobalt.
Future data tools are expected to be released in the coming months. These will include a reference for the mineral intensity of key energy technologies, and implied mineral demand based on different energy scenarios.
“The work our students have undertaken to provide mineral cost, and availability is phenomenal,” said Ian Lange, Viola Vestal Coulter Chair in Mineral Economics. “We are proud to offer it to policymakers around the world to improve their understanding of mineral markets.”
The mineral availability tools are available at the following webpage.
About the Payne Institute for Public Policy
The mission of the Payne Institute is to provide world-class scientific insights, helping to inform and shape public policy on earth resources, energy, and environment. The Institute seeks to link the strong scientific and engineering research and expertise at Mines with issues related to public policy and national security. For more information, visit: payneinstitute.mines.edu.
About Colorado School of Mines
Colorado School of Mines is a public R1 research university focused on applied science and engineering, producing the talent, knowledge and innovations to serve industry and benefit society – all to create a more prosperous future. Learn more at mines.edu.
About the Mines Mineral and Energy Economics program
The Mines Mineral and Energy Economics program was founded in 1969 and is the only Mineral Economics program in the United States. This world-renowned program attracts students from all over the world, and our alumni are known globally for their career achievements in resource industries. Students gain the skills necessary for understanding the complex interactions of markets and policy that influence the energy, mineral and environmental industries.
CONTACT: Contact: Erich Kirshner Media Relations Specialist 303.921.6733 erich.kirshner@mines.edu
