Increasing Demand For and Restricted Supply of Raw Materials

Metals and minerals account for a relatively small share of world industrial output, but their supply is essential for economic development. As a greater number of countries emerge as strong economic forces on the world stage, the demand for raw materials has been accentuated. Uneven distribution across countries of metals and minerals reserves emphasizes the importance of free trade. This chapter provides the economic context of export restrictions with particular focus on the metal and mineral sector. The chapter also describes the potential role of asset acquisitions in restricting international trade in raw materials. Finally, it proposes three key areas that would benefit from further study.