Eni – Critical Minerals

The main theme of the report is critical minerals and their role in the development of key technologies related to the energy transition.

Key minerals such as cobalt, lithium, nickel, manganese, and graphite are important for battery production. Rare earth elements are necessary for wind energy, and silicon is crucial for solar technologies. The extraction of these resources is highly concentrated in a limited number of countries, creating significant supply security risks and undermining traditional market competition. In recent years, there has been a sharp increase in prices for many critical raw materials due to the rising demand associated with the energy transition. In 2024, the production of critical minerals increased by an average of 5.5% compared to the previous year, with the most significant growth in cobalt production (+21%).