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The Mining Boom in 2021

The recent boom in commodity prices in the metals and mining sector suggests a fifth supercycle is approaching. This has also raised hopes for larger investments being placed in green energy sources, as seen in the surging prices for copper and nickel.

The increasing demand for these metals, which are crucial to the current energy transition, suggests that fossil fuels will lose a significant share of the world’s energy demand.

Key fact: In 2021, commodity prices for copper and nickel soared, reaching over US $8,000 and $18,000 per metric tonne, respectively

Driving the current mining boom are several factors, including economic recovery following the COVID-19 slump and the value drop of the US dollar. Given the rising demand for metals, another key factor is the impetus to invest in renewable energy sources and achieve net-zero targets.

Key fact: By 2050, fossil fuels’ share of energy demand is expected to fall to 50%

The mining industry will need to maintain supply elasticity to meet this growing demand and level-out commodity prices. This means more investments will be needed in order to fortify long-term supply.


  • Incentivises need for sufficient supply

  • Increasing investments in renewables

  • Decreasing fossil fuel demand

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