Estimating the probability of export restrictions to inform mineral criticality

Abstract

As demand for advanced technologies rises, mineral commodities will increase in geopolitical importance. To assess risks associated with mineral commodity supply chain disruptions, governmental agencies and others have developed "criticality" assessments, with criticality described using the economic impact and probability of supply chain disruptions. In previous work, subjective supply risk indicators were developed to approximate this probability, typically combining several factors such as supply diversity and political stability of trading partners, where indicator weightings can substantially impact results. This work explicitly quantifies trade barrier probability using an ensemble of several machine learning classifiers, with probability estimates informed by exogenous variables such as prior trade barrier implementation and global export dominance. Major differences in the high-probability countries and commodities are observed across models, but the ensemble method highlights Indonesia, China, Tanzania, and the United States as particularly high risk. This approach enables a direct, quantitative, objective approach to assessing trade barrier probability, enhancing risk identification and prioritization for policymakers.