Global mining at inflection point as demand for critical minerals surges

GLOBAL mining is at an inflection point: demand for critical minerals, underpinned by the low-carbon transition, defence spend, transport electrification and data centres is accelerating in an environment where supply is rising, metals prices are volatile and government intervention is scaling up, said BDO Audit Partner and UK Head of Natural Resources and Energy, Matt Crane.

- EDWARD WEST

THE BDO Annual Mining Report 2026 has found that sustainability has moved from a periphery, to the core of mining strategy. While ESG frameworks and reporting standards are expanding, their effectiveness is however inconsistent.

(I ITUMELENG ENGLISH Independent Newspapers)

He was writing in BDO's Annual Mining Report 2024, which was released Wednesday. The report found that sustainability has moved from the periphery, to the core of mining strategy. While ESG frameworks and reporting standards are expanding, their effectiveness is however inconsistent.

"Many companies still grapple with fragmented disclosures and struggle to integrate sustainability into operational decision-making," the report found. Recycling and circularity was an opportunity. Recycled minerals could generate up to 80% fewer greenhouse gas emissions than primary production, yet recycling rates for materials like lithium and rare earths remained very low.

Scaling recycling infrastructure was becoming a critical lever for both decarbonisation and supply security.

"The industry is entering a period where long-term resilience matters more than short-term cycles," said Servaas Kranhold, Audit Partner and Head of Natural Resources at BDO South Africa.