Mining industry shifts focus toward critical minerals and energy transition metals

The global mining industry is undergoing a strategic shift toward critical minerals required for the energy transition, such as copper, lithium, and silver. Major mining corporations are increasingly prioritizing these materials to meet rising demand from the technology, electrification, and renewable energy sectors.

Glencore is focusing on strengthening its supply of transition metals, specifically targeting higher copper output with an ambition to reach 1.6 million tonnes annually by 2035. Rio Tinto is reshaping its portfolio around iron ore, copper, aluminium, and lithium, including significant investments in the Simandou iron ore project in Guinea and lithium projects aimed at reaching 200,000 tonnes of capacity by 2028. BHP is also positioning copper at the center of its growth strategy.

In the precious metals sector, silver is gaining attention due to its dual role as both a financial safe-haven and a critical industrial component. Its high conductivity makes it essential for electronics, solar panels, and electric vehicles. As electricity demand is projected to rise significantly by 2035, silver's role in industrial automation and green technology is expected to grow.