Humanoids’ Insatiable Hunger for Minerals

Rahul Anand, head of Morgan Stanley's Australia Materials Research Team, discusses the critical role of critical minerals (rare earths, lithium, graphite, copper, nickel, and cobalt) in the burgeoning humanoid robotics market. He highlights China's dominance in the supply of these minerals, emphasizing the need for Western diversification given the 18-year timeframe for establishing new mines and projected significant supply deficits by 2040. Anand mentions Morgan Stanley Research's projection of a billion-unit humanoid robot market by 2050, generating nearly $5 trillion in annual revenue, and the resulting massive demand for critical minerals. He also notes the ongoing trade negotiations between the US and China and the lack of agreement on critical military-use rare earth magnets, further underscoring the urgency of diversification efforts. Finally, he provides a brief mention of a list of 34 global stocks related to these minerals.