These deficits likely will slow global decarbonisation efforts by raising supply chain costs and, consequently, the prices of lower-carbon products, McKinsey said in a report released Wednesday.
Trafigura chief executive Jeremy Weir has expressed similar concerns.
Nickel, necessary for the lithium-ion batteries that power electric vehicles, is expected to face shortages of about 10 per cent to 20 per cent by 2030, while dysprosium, a rare-earth element commonly used in electric motors, may experience shortages of as much as 70 per cent, McKinsey said.
Supplies of copper, lithium, cobalt, iridium and tin also may be crimped.
The materials shortage would result in an additional 400 million to 600m tonnes of greenhouse gas emissions in 2030, the report estimates.
That would blow through international plans to limit global temperatures as set out in the Paris climate accord.
McKinsey recommends investments in mining, refining and smelting increase to between $US3 trillion ($4.5trn) and $US4trn by 2030, a 50 per cent annual increase compared with the previous decade.
