Turkish minister warns critical mineral dependency, protectionism threaten global economy
Trade Minister Omer Bolat told the OECD Critical Minerals Forum in Istanbul that geographic concentration of lithium, cobalt, and rare earths, combined with rising protectionism, poses serious risks to global economic security. He urged diversification of production and transport corridors, circular economy investment, and transparent market data.
Turkish Trade Minister Omer Bolat warned on Tuesday that the geographic concentration of critical minerals and rising protectionist trade policies pose serious threats to global economic security. Speaking at the OECD Critical Minerals Forum in Istanbul, Bolat said state intervention, export restrictions, and the weaponization of supply chains have become defining features of an increasingly fragmented global economy. “Geopolitical tensions are not only on the rise but also are becoming increasingly more complex and persistent, while regional conflicts continue disrupting trade routes and driving up costs, hampering predictability,” he said.
Vulnerabilities in supply chains
Critical minerals—including lithium, cobalt, nickel, and rare earths—are essential for electric vehicle batteries, wind turbines, solar panels, semiconductors, data centers, and AI systems. Bolat noted that global demand for lithium has surged fourfold over the past decade. He highlighted extreme concentration: the Democratic Republic of Congo accounts for 75% of global cobalt output; Indonesia and the Philippines supply two-thirds of nickel; and Australia and Chile together provide over half of global lithium. “This lack of diversification creates strategic vulnerabilities for importing countries while trapping producers in structural inequality,” he said.
Solutions and Türkiye’s role
Bolat urged diversification of production, refining technologies, and transport corridors, as well as stronger investment in the circular economy—including recycling, efficiency, and battery innovation. He called for resource-rich developing countries to generate greater value from their minerals and for early warning systems to detect supply chain risks before they escalate. “No country should face such challenges alone,” Bolat said, adding that Türkiye is ready to play a more active role in building resilient, secure, and equitable global supply networks. The forum was also attended by Energy Minister Alparslan Bayraktar and global policymakers.
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