Export restrictions on critical raw materials have reached an all‑time high, according to a new OECD report. The annual update of the OECD Inventory of Export Restrictions on Critical Raw Materials shows the number of restrictions has steadily risen over the past 15 years, with growth slowing from 3.4 % in 2023 to 0.6 % in 2024 but new measures still appearing in a wider range of countries, especially in Africa and Asia. Minerals such as cobalt, manganese, graphite and rare‑earth elements are especially exposed, with a large share of global cobalt and manganese exports subject to restrictions between 2022 and 2024. The report notes that the top three producers of cobalt, lithium and nickel supply more than two‑thirds of global output, while rare‑earth production is highly concentrated. Highly restrictive measures, such as export prohibitions, now represent over a third of new rules in 2024, largely justified by revenue generation.
© OECD, 2024 – Source: https://www.oecd.org .
This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed in this adaptation should not be reported as representing the official views of the OECD or of its Member countries.
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