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Business Daily

Critical minerals: the global race is on

Business Daily

BBC

News, Business

4.4796 Ratings

🗓️ 25 May 2025

⏱️ 17 minutes

🧾️ Download transcript

Summary

They’re essential to the green transition, modern tech, and defence systems—and global demand is soaring.

In the first part of our series on critical minerals, we ask what they are, where they're found and why they matter?

As countries scramble to secure supplies, we explore the rising geopolitical tensions shaping this fast-growing industry—including the Oval Office standoff between Presidents Trump and Zelensky over a landmark minerals deal.

Presenter: Sam Fenwick Producer: Lexy O’Connor

(Image: Hands holding rock samples of critical minerals)

Transcript

Click on a timestamp to play from that location

0:00.0

So we've got a sort of hazmat suit coming out now. We've just got a zip down the front.

0:07.0

Hello and welcome to Business Daily from the BBC World Service. I'm Sam Fennick.

0:12.2

I'm going to put a mask on next. Put on, hair tucked in, zipped up, struggling to sleep.

0:18.6

Yes, I'm fully suited in protective gear

0:21.2

because this week on Business Daily

0:23.4

we're digging into one of the fastest growing

0:25.9

and geopolitically sensitive sectors in the world,

0:29.8

critical and rare earth minerals.

0:33.1

As you know, we're looking for rare earth all the time.

0:36.3

Rare earth is called rare for a reason.

0:39.5

You might have heard the phrase mentioned in speeches, trade deals and even diplomatic standoffs.

0:44.9

But what exactly are critical minerals?

0:47.6

Why do we need them so urgently?

0:49.7

And who controls the supply?

0:52.0

The race to secure critical minerals is on

0:54.5

and we're following it this week on Business Daily.

1:01.0

The sound you can hear is the blade of a wind turbine

1:08.0

slicing through the air,

1:09.8

a symbol of the world's push away from

1:12.1

fossil fuels and towards clean energy. But powering that turbine and the green transition it

1:18.7

represents takes more than just wind. It takes minerals, dozens of them, lithium, cobalt, nickel,

1:25.6

rare earth elements.

...

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