While the growth of new restrictions slowed to 0.6% in 2024, the cumulative effect of existing measures has reached a historic peak. In a significant shift, Myanmar emerged as the most active regulator in 2024, accounting for over 21% of new restrictions on nickel, tin, and rare earths.
Winners and Losers
The geopolitical map of mineral control is highly concentrated. Over the last 15 years, five nations—China, India, Argentina, Vietnam, and Burundi—have accounted for more than half of all global export restrictions.
Conversely, the “losers” in this landscape are high-tech manufacturing hubs that lack domestic mineral wealth.
The OECD warns that the United Kingdom (22.7%), South Korea (21.8%), and Japan (18.4%) face exposure levels well above the global average.
These nations are now highly vulnerable to price shocks and supply shortages that could cripple their automotive and electronics sectors.
