Critical Minerals: Estimating Price Elasticity of Supply Using Mine-Level Data

Paul Vertier, Luc Jacolin, Édouard Mien and Florian Léon ()
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Édouard Mien: FERDI - Fondation pour les Etudes et Recherches sur le Développement International
Florian Léon: FERDI - Fondation pour les Etudes et Recherches sur le Développement International, CERDI - Centre d'Études et de Recherches sur le Développement International - IRD - Institut de Recherche pour le Développement - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne

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Abstract: As the demand for critical minerals to the energy transition strongly grows, it is crucial to understand whether their supply is able to match it. In this paper, we address this question by estimating the price elasticity of supply for 8 minerals between 2000 and 2019, using mine-level production data with global coverage. We isolate global price variations related to mineral-specific demand shocks using a structural VAR with sign restrictions and study the reaction of mineral production to these price variations in a local projection framework.

Keywords: critical minerals; price elasticity of supply; energy transition (search for similar items in EconPapers)
Date: 2025-06-18
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