Defence-critical raw materials
NATO's list of twelve, and what it means for supply
In December 2024 NATO published its list of twelve defence-critical raw materials: aluminium, beryllium, cobalt, gallium, germanium, graphite, lithium, manganese, platinum, rare earth elements, titanium and tungsten.
The list was drawn up by the NATO Industrial Advisory Group under a supply-chain roadmap endorsed by Allied defence ministers in June 2024. It looks at systems across the defence industry, from jet-engine superalloys to submarine hulls, rather than any single weapon.
Rising defence budgets make defence a new category of offtaker. For a project, that can mean a buyer that values security of supply over the lowest price, which changes how offtake and financing can be structured.
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