“Russia typically supplies about 5% to 6% of global commodities, China has dominance, particularly, around the battery raw material supply chain and is increasingly taking ownership of the mining of these commodities,” opens Julian Kettle of commodities analysts Wood MacKenzie in this episode of Trade Finance TV.
Without metals, there is no transformation – neither a digital one nor a sustainable one reflects Deutsche Bank’s Hauke Burkhardt, who points out that batteries need cobalt, lithium and nickel and wind turbines are dependent on rare earths for their magnets.
Following the publication of Deutsche Bank’s white paper, How to ensure commodities security in a volatile world, other guests participating in this particularly topical discussion also include Dr Rebecca Harding, independent trade economist as well as co-presenter TXF’s Aífe Howse. They discuss how Russia and China are deepening their presence in Africa – the source of critical minerals such as cobalt, and how financing is following this – traders, says Howse, are accessing the Democratic Republic of Congo cobalt through secondary bank debt.
In conclusion, they reflect on what economies in Europe need to do to reduce these dependencies to become more resilient to supply chain shocks such as the current semiconductor shortage.
Tune in now to find out more!
- Hauke Burkhard, Head of Lending, Deutsche Bank AG
- Dr Rebecca Harding, Independent Economist and CEO of Coriolis Technologies
- Julian Kettle SVP and Vice Chair of Metals and Mining Wood MacKenzie, commodities analysts
- Aífe Howse, Commodities Content Manager, TXF News
- Clarissa Dann, Editorial Director, Deutsche Bank AG