Benedikt Sobotka Photo/ provided by Annual Meeting of the New Champions

Eurasian Resources Group CEO and International Battery Alliance Co-Chair Benedikt Sobotka highlighted the immense opportunity for the mining sector in the energy transition during the 15th Annual Meeting of the New Champions, also known as the Summer Davos, held in Dalian, China.

Sobotka stated that the energy transition requires an estimated $1.5 trillion in investment. This represents a huge opportunity for the mining industry, which could mark the largest procurement order in the industry's history.

Sobotka emphasized that China's renewable energy capacity additions outpace the entire African continent's power production, setting the stage for a global success narrative. The demand for materials like copper, essential for energy transmission, is set to soar. Despite high recycling rates, new copper production is necessary, and with supply struggling to keep pace, the market outlook for copper remains robust for the next 10~15 years.

Furthermore, Sobotka discussed the importance of the Battery Passport initiative within the Global Battery Alliance, aiming to foster sustainable energy storage supply chains. Transparency in the sourcing, refining, and recycling of materials is crucial for the industry's sustainable development, a goal the alliance is well-positioned to lead.