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IEA to set EV mineral import benchmarks to reduce overdependence

Joint mining by member states of lithium, nickel and cobalt will be considered

Dump trucks carry raw nickel ore at a mining site in Indonesia.   © Reuters

TOKYO -- The International Energy Agency will establish guidelines by the end of the year that aim to limit import dependence of its members on a single supplier for key minerals that are essential for the spread of renewable energy, Nikkei has learned.

Suppliers of lithium and cobalt for electric vehicle batteries are concentrated in China and a handful of other countries. In order to guard against the risk of disruptions, joint procurement by member countries will be explored if a set threshold is breached.

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