What the mining worker shortage means for the EV industry

The U.S. is running out of miners. More than half the nation's mining workforce, about 220,000 workers, is expected to retire by 2029, and the number of candidates willing to fill those slots is shrinking. Nearly two-thirds of mining CEOs say the lack of talent will have a "large or very large impact on profitability" over the next decade, according to PwC's annual Global CEO Survey. At the same time, demand for minerals such as lithium, cobalt and copper, critical components used to make batteries for electric vehicles and smartphones, is rising. Globally, at least 384 new mines will need to be built to meet demand for EVs by 2035.