Historically, the global metals and mining industry has been driven by economic growth underpinning the development of the middle class through demand growth for materials like steel, aluminum, and coal. This report by McKinsey&Company offers a view of the possible road ahead, based on data from publicly available sources. While 80 percent of the industry consists of five materials - steel, coal, gold, copper, and aluminum - the landscape is changing in three ways due to the energy transition: It accelerates demand growth for materials needed for low-carbon technologies; it triggers a long-term shift of the demand profile as low-carbon technologies require a different set of materials; and it drives a long-term reduction of demand for thermal coal in the energy system, although this is presently the second largest material in metals and mining measured by revenue. . https://www.mckinsey.com

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