WTO, Asian bank launch minerals database

• Published On: 02 January 2025 at 07:02

The Asian Development Bank and the World Trade Organisation Secretariat launched the Trade in Critical Minerals database to increase transparency in the trade of minerals critical to the clean energy transition.

The database, which was launched on November 20 at the COP29 in Baku, provides policymakers, researchers, and stakeholders with detailed information on trade flows, tariffs, and policies for 250 key minerals and their value chains.

The TiCM database responds to the growing global demand for critical minerals such as lithium, cobalt, and rare earth elements, which are required for the production of batteries, wind turbines, and electric vehicles. These minerals are critical for meeting climate targets such as tripling renewable energy capacity and doubling energy efficiency by 2030.

The database provides valuable insights based on publicly available sources such as the WTO Analytical Databases, Trade Monitoring Database, and the ePing trade measures platform. Users can investigate trade networks, specialisation patterns, and partner dynamics using data visualisations such as bar charts, tree maps, and network graphs.

"Critical minerals are at the heart of the clean energy transition," an ADB spokesperson stated. "The TiCM database is a step towards building sustainable and resilient supply chains."

The initiative aims to promote global collaboration by facilitating informed decision-making and fostering the development of inclusive, long-term critical mineral markets.

It emphasises the importance of transparent trade policies in addressing supply chain bottlenecks and ensuring equitable access to these critical resources.