PRODUCTS & SOLUTIONS
Critical Minerals Consulting
Tailored Advisory Across the Full Supply Chain
Critical Thinking for Critical Minerals
Critical minerals sit at the intersection of energy transition, national security, and industrial competitiveness. Yet these markets remain among the least transparent in the world. Pricing is inconsistent. Production costs are difficult to verify. Supply is concentrated in ways that create strategic vulnerability. For organizations that cannot afford to get it wrong, CERA Consulting at S&P Global Energy brings the critical thinking and depth of coverage needed to navigate critical minerals markets with confidence.
How We Help
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Transparency in Opaque Markets
Transparency in Opaque Markets
Our mineral cost modeling spans mining, refining, and processing from the ground up. Built asset by asset, not from aggregated estimates, it gives you reliable visibility into cost drivers and margins across the supply chain.
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End-to-End Supply Chain Insight
End-to-End Supply Chain Insight
We connect extraction, refining, and end-use demand into one integrated view across most critical minerals, with coverage spanning EVs, batteries, semiconductors, and manufacturing.
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Supply Security and Diversification
Supply Security and Diversification
We help clients evaluate supply security and diversification strategies through forward-looking analysis of supply gaps, new development requirements, asset, and policy risk.
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Decision-Grade Forecasting and Scenario Analysis
Decision-Grade Forecasting and Scenario Analysis
We model a range of outcomes rather than presenting a single forecast, so your planning is grounded in how markets actually behave, not one assumed path.
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Deep Technical Expertise
Deep Technical Expertise
Our Process Economics Program models refinery production at the chemical and reagent level, supported by dedicated research teams across supply, demand, and technology. We don't just answer questions. We can show exactly how we arrived at every number we deliver.
Who We Serve
Governments and Policy Bodies
Policymakers and resource strategy directors shaping national supply security.
Mining and Refining Companies
Executives evaluating cost competitiveness and supply chain positioning.
Investment & Financial Institutions
Investors, banks, and portfolio managers supporting due diligence and capital allocation.
Demand-Side Industry Leaders
Original equipment manufacturers, battery, semiconductor, and tech companies managing supply risk.
Real Outcomes
Featured Content
Our Team
Our consulting experts bring a cross-commodity, full supply chain perspective to every engagement, backed by a global, dedicated research team with deep coverage across metals and mining.
S&P Global Energy
Eleonor Kramarz
Global Head, Power, Energy Transition & Critical Minerals Consulting
Eleonor leads a team of over 50 consultants and is motivated by solving the complex challenges organizations face in the energy transition.
Renowned for her detailed, hands-on approach to every challenge. Eleonor supports private companies, governments and national oil companies (NOC’s) who are looking to decarbonize from every angle, including hard-to-abate sectors. By unpacking challenges methodically, Eleonor collaborates alongside her clients, providing support to their strategic direction, portfolio and investment decisions. Not stopping at blue sky thinking, Eleonor delves deeper. It’s how she helps develop effective and actionable solutions that drive emissions reduction and real business performance.
Eleonor holds a master’s degree in Chemical Engineering from Imperial College London.
S&P Global Energy
Aurian De La Noue
Executive Director, Energy Transition and Critical Minerals Consulting
Aurian is an Executive Director in the Energy Transition practice at S&P Global, and is the global lead for critical minerals and metals consulting. With over twelve years of experience, he has led numerous consulting projects in the energy transition space, particularly within the metals and mining industry. Aurian has worked with major mining conglomerates, banks, governments, and energy companies. Aurian's expertise in critical minerals includes developing integrated supply, demand, and structural cost models, as well as creating decarbonization pathways for key commodities. He has also worked on emission reduction strategies and climate-related scenario analysis for mining producers. Notably, Aurian worked on Egyptian Government's Mining Masterplan between 2018 and 2021, supporting the Ministry of Petroleum in setting up its exploration auction round, its mining cadastre and bid evaluation criteria for the country's first ever mining auction.
Before joining S&P Global, Aurian was a Principal Consultant in Wood Mackenzie's Metals & mining consulting practice, focusing on iron ore, steel, and base metal. He holds a B.A. in Economics and Political Science from the McGill University and an M.Sc. in Management from the London School of Economics.
S&P Global Energy
Guilherme Goncalves
Associate Director, Energy Transition & Critical Minerals Consulting
Guilherme is an Associate Director within the S&P Global Strategy Consulting Group with a focus on Energy Transition relevant topics. Mr. Gonçalves has more than 8 years of experience supporting energy related consulting engagements, mostly focused on the Oil, Gas and Power sectors, by modelling and analyzing cost competitiveness, market fundamentals, sectorial regulatory framework and developing scenarios.
Before joining the consulting team, Mr. Gonçalves was focused on Latin American natural gas markets and scenario development. He contributed to regulatory analysis, natural gas supply/demand and price modeling, with particular attention to the midstream and downstream sectors.
Mr. Gonçalves holds an energy planning master’s degree from Rio de Janeiro Federal University and a bachelor’s degree in electrical engineering from the Pontifical Catholic University of Rio de Janeiro. Is fluent in Portuguese, English and Spanish.
S&P Global Energy
Aurélien Henry
Consulting Manager, Energy Transition and Critical Minerals Consulting
Aurélien Henry is a Consulting Manager in the Energy Transition and Critical Minerals practice at S&P Global. He brings over 15 years of experience across the metals and mining industry, combining technical mining expertise with financial and strategic advisory capabilities. Aurélien has led a wide range of investment and ESG-related consulting engagements across commodities for mining companies, commercial banks, international financial institutions, trade associations, and government bodies. He supported clients on decarbonization strategies (e.g. lender market studies for green DRI/HBI and steel projects), market analyses, cost and price modeling, and policy impact assessments (covering e.g. EU ETS, CBAM, climate scenarios).
Prior to joining S&P Global, Aurélien was a Senior Consultant at CRU Group. He also worked as an associate in a mining-focused corporate finance advisory boutique, where he supported project finance and M&A transactions. Earlier in his career, he worked as both an underground mining geologist in Western Australia and an exploration geologist in Portugal, giving him strong operational grounding in the sector. He holds an M.Sc. in Metals & Energy Finance from Imperial College London and an engineering diploma from the École Nationale Supérieure de Géologie (France).
S&P Global Energy
Miguel Acosta
Consulting Manager, Energy Transition and Critical Minerals Consulting
Miguel is a Consulting Manager in the Critical Minerals and Energy Transition practice at S&P Global. He brings over 9 years of experience in the energy and commodities space, with a strong track record of leading and delivering complex consulting projects. His work spans a diverse client base, including banks, governments, energy companies, and international organizations.
Miguel served as a project manager and co-author of Copper in the Age of AI, a widely cited, in-depth public study on the demand and supply of copper and its numerous drivers. He has also helped develop structural cost models across different critical minerals. Beyond the metals space, Miguel has worked on decarbonization strategies, clean tech supply chains, and emissions benchmarking. Before joining S&P Global, Miguel was a Managing Consultant at Wood Mackenzie, where he worked across different commodity spaces. He holds a Master of Public Administration (MPA) from Columbia University and a BA from ITESM.
S&P Global Energy
Ross Embleton
Principal Consultant, Energy Transition and Critical Minerals Consulting
Ross is a Principal Consultant in the Energy Transition and Critical Minerals consulting practice for S&P Global Energy, based in London. He has more than five years of experience within the metals and mining industry, focusing on supply-side analysis and production cost modelling within critical minerals, battery raw materials and precious metals. Ross has collaborated on several consulting projects in the energy transition space, in particular projects related to the rare earths industry. He managed engagements with mining companies, governments, banks and financial institutions.
Prior to joining S&P Global, Ross led Wood Mackenzie’s rare earths market service and was responsible for supply, demand and pricing analysis within research reports. He has also worked as a mine supply analyst focusing on precious metal markets.
FAQs
Speak to an Expert
Critical minerals markets shift fast. The right guidance makes all the difference.
Request a consultation and our critical minerals consulting team will be in touch to discuss your challenges and goals.