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  By Jim Goddin, Head of Circularity at thinkstep-nz The Iran crisis has exposed a hard truth for global business: supply chains are only as resilient as their weakest link. When conflict disrupts major trade routes, the effects spread quickly through the wider economy. The immediate shock may be geopolitical, but the underlying business problem is dependence. Too much reliance on fragile external supply chains leaves companies exposed when conditions change. This is where critical materials come into focus. For years, discussion has centred on critical minerals such as lithium, cobalt and rare earth elements. These matter, and governments are right to worry about them. But for business, the more immediate issue often sits further along the value chain. What matters operationally are critical materials: batteries, magnets, alloys, catalysts and electronic components that deliver the performance modern products depend on. These materials are often hidden within products, used in low concentrations and difficult to substitute without losing performance. They are also tied to long, complex and fragile global supply chains. That makes them a resilience issue, not just a resource issue. For New Zealand manufacturers, this matters because distance, scale and reliance on imported components can amplify disruption. Many manufacturers operate in specialised markets where a single component, supplier or shipping route can determine whether production continues smoothly. Resilience is not only about holding more stock. It is about understanding where value sits, where dependencies exist and how materials can be kept working for longer. The transition to renewables must also be resilient None of this is an argument against renewables. Quite the opposite. Greater use of renewable energy is critical because continued dependence on oil and gas leaves economies exposed to repeated price shocks and geopolitical disruption. But the transition brings a second challenge. Many renewable and low-emissions technologies […]