Metals & Mining

The metals and mining sector encompasses precious metals such as gold and silver, base and industrial metals including copper and aluminum, and critical and battery minerals, namely lithium, cobalt, nickel, rare earth elements, and uranium, which underpin electrification, defense systems, and advanced technology supply chains. Growth within the sector is increasingly shaped by structural supply constraints, including declining ore grades and sustained underinvestment in new production capacity, alongside rising demand associated with electrification, artificial intelligence infrastructure, and defense applications. Government policy has become an increasingly influential factor as well, with governments utilizing strategic reserves, price floors, offtake agreements, and direct equity investments to support critical minerals development. Supported by resource scarcity and the ongoing effort to secure global supply chains, the metals and mining sector is well positioned for continued structural growth in the years ahead.