In addition to Peak Oil Theory and the coming scarcity of clean water, we must also prepare for the fact
"that all of the world's important industrial metals are dwindling, and that despite increasing exploration budgets, our sources of them are becoming rare and more concentrated." - Quoted Section from Business Insider
It is true that, even with the meteoric rise of human industry over the past century, we have barely made a dent in the Earth's thick crust. The issue we're about to face is not the result of us using up all of the metals as much as it is a case of there being very little 'low hanging fruit' left for the taking. These metals exist in abundance only in a relatively small number of concentrated pockets, and coming to an end of that easy-to-get supply means we will now have to worker harder and it will cost us more than yesterday. In fact, the metals will still exist in small quantities long after the cost of developing them becomes too exorbitant to bear.
Even if there are still metals out there for the taking, can you imagine how we will get at them with Peak Oil looming? Before oil came along as a force multiplier, mining was done mostly by some guys in a hole with pickaxes and the resulting production was brought up using pulleys and hauled away by mules or some other similar pack animals. How deep do you think they'll be able to dig before having to abandon what's left in the mine as unreachable? Also, oil inputs drive the refining process as well, so that too will be slower, more difficult and more expensive.
Slower and more strenuous mining/transport/refining means fewer materials ready-to-sell, which (with demand unchanged) means higher prices. Consumers, however, will only pay so much, which puts an eventual cap on pricing. At some point in this scenario, mining becomes too expensive and outweighs the profits. All things come back to
ERoEI (Energy Returned on Energy Invested); it may be a physics term, but it applies. If something costs you more than you get out of it, then it's a waste of your time. You can use that rule for just about anything and it still applies, and it fits especially well here. So, at that point the mining industry falls apart, and there goes the jobs of whatever few workers wouldn't have already been laid-off by then.
Among the metals that will likely be in short supply very soon is copper. Being used
"extensively in electrical power cables, electrical equipment, automobile radiators, cooling/refrigeration tubing, heat exchangers, artillery shell casings, optical fiber, water pipes, drain pipes, plumbing and even jewelery, this reddish-brown metal is a commodity that the world can ill afford to be in short supply of." Quote courtesy of Peak Copper | Silver Analyst | Safehaven.com
From the same article quoted just above, the follow points are made regarding copper:
- Only 56 new copper discoveries have been made in the last 30 years.
- He predicts Chilean copper output to peak about 2008 (Chile is the world's main producer). NOTE: This was written Dec. 2005
- A lack of smelter and refinery supply is creating another bottleneck.
- 21 of the 28 largest copper mines in the world are not amenable to expansion.
- Many large copper mines will be exhausted between 2010 and 2015.
Talk of a looming shortage has some folks preparing:
China Corners Over 90% of Market for Rare-Earth Metals.
These so-called Rare-Earth Metals, by the way, are required materials in the making of just about everything being promoted as 'green.' This includes hybrid car batteries, low wattage light bulbs and wind turbine engines. Further, beyond the environmental movement, these minerals are also used in fiber optics, earthquake monitoring devices, computer hard-disk drives, flat-screen TVs and monitors and portable X-Ray machines, plus many other things we take for granted.
Rare-Earth Metals come
MOSTLY from China in the first place (
source), and they obviously
recognize their value.
The good news is that some of these minerals can be recovered through recycling efforts. However, the problem with recycling Rare-Earth Metals
"is that the technology is not well developed. For clean segregated scrap, such as segregated Li-ion battery scrap, the process is relatively straightforward. The problems arise when the collection and recycling process is handled by the existing recycling industry. More often than not metallic parts and components will not be segregated by metal type." (source). Therefore, it seems to me that costs will need to rise quite a bit before Rare-Earth recycling will become an economically viable process.