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Global mining industry critical mineral transition

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2026-08-24 22:14 UTC → 2026-08-25 14:05 UTC · added ~~removed~~

The global mining industry is undergoing a strategic shift toward critical minerals essential for the energy transition, including copper, lithium, and silver. Major corporations are prioritizing these materials to meet rising demand from the technology, electrification, and renewable energy sectors. Glencore is targeting increased 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 as a central component of its growth strategy. Silver is seeing increased attention due to its dual role as a financial safe-haven and a critical industrial component for electronics, solar panels, and electric vehicles. This shift has led to aggressive expansion through acquisitions. In South America, Rio Tinto has moved to acquire Arcadium Lithium for $6.7 billion to bolster supply in Argentina and Australia, while BHP and Lundin Mining formed a joint venture to acquire Filo Corp for approximately $3 billion to develop a copper-gold project on the Argentina-Chile border. In Africa, Mercuria Energy Group is expanding its footprint through uranium commercialization in Malawi and copper and cobalt partnerships in the Democratic Republic of Congo to improve supply chain traceability. Demand for lithium is projected to increase fivefold by 2040, driving competition between Europe, China, and the Americas. In Europe, projects like Savannah Resources’ Mina do Barroso in Portugal aim to reduce reliance on Chinese refining. In South America, the sector is poised to meet demand that the OECD estimates could increase by 400% to 600% over the next decade. In Chile, the industry provides approximately 200,000 direct jobs, while Argentina saw mining exports reach a record $6.037 billion in 2025.

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