PRODUCTS & SOLUTIONS
CERA Consulting | Critical Minerals Advisory
Critical Thinking for Critical Minerals. Tailored Advisory Across the Full Supply Chain
Critical Minerals Decisions Demand Perspective
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. Executives making capital allocation, procurement, and policy decisions in this environment are often working with incomplete information. For organizations that cannot afford to get it wrong, CERA Consulting at S&P Global Energy brings the critical thinking, depth, and support across the full supply chain 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
Policy makers and resource strategy directors seeking supply security analysis and forward-looking intelligence to inform national strategy and policy design.
Mining and Refining Companies
Executives and operations leaders evaluating cost competitiveness, asset opportunities, and supply chain positioning.
Investment Institutions
Portfolio managers and strategy teams requiring technical rigor and scenario depth to support due diligence and capital allocation.
Demand-Side Industry Leaders
Procurement directors, OEMs, battery manufacturers, technology companies and semiconductor companies managing input cost exposure and supply risk across critical materials.
Why CERA Consulting
Asset-level data, not aggregated estimates.
Our cost modeling is built from the individual asset up, reflecting real production dynamics rather than figures that can obscure what is driving competitiveness.
Probabilistic modeling that reflects real uncertainty.
We model a range of outcomes rather than presenting a single forecast, so your planning is grounded in how markets actually behave.
Technical process expertise that is genuinely rare.
Through our Process Economics Program, we model refinery production at the chemical and reagent level, a depth of rigor that distinguishes our cost analysis from standard market coverage.
One integrated view across supply, demand, and policy.
Supply dynamics, demand trends, and policy risk are analyzed together, giving you a coherent picture without having to reconcile competing data sources.
Featured Content
Our Team
Our consulting experts bring a cross-commodity, full supply chain perspective to every engagement, backed by a dedicated research team with deep coverage across critical minerals supply and demand.
S&P Global Energy
Eleonor Kramarz
Global Head, Power, Energy Transition & Critical Minerals Consulting
She leads a team of 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 a Senior 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
Consultant, Oil, Gas & Power
Guilherme is a Consultant within the Americas Strategy Consulting team that focuses on Latin American upstream and Gas & Power markets by modelling and analyzing cost competitiveness, market fundamentals, sectorial regulatory framework and developing scenarios.
Before his Consultant position, Guilherme was a Research Analyst at S&P Global(now part of S&P Global) and focused on Latin American natural gas markets and scenario development. He contributed to regulatory framework analysis, natural gas supply/demand and price modeling, and market developments, with particular attention to the midstream and downstream sectors.
Guilherme 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 and English and speaks Spanish.
FAQs
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