Burns & McDonnell Blog Seizing the Opportunity by Developing Critical Mineral Projects in the U.S.

Securing a domestic supply chain of critical minerals remains a strategic priority for industry leaders and policymakers but market dynamics add complexity to the path forward. While the long-term outlook for demand of lithium, nickel, cobalt and rare earth elements remains strong - driven by electric vehicle (EV) manufacturing, grid-scale energy storage and advanced electronics - recent trends indicate a more complex near-term future. Prices for lithium, nickel and cobalt have fluctuated due to oversupply, changes in battery chemistries and shifts in global demand. However, with policy momentum growing and new incentives on the horizon, the U.S. is well-positioned to lead in critical mineral processing and refining.