By 2050, the World Bank forecasts that demand for the metals and minerals used to produce the clean energy technologies will increase by almost 500%.

The world's fourth-largest iron ore miner said it shipped 43.3 million tonnes of the steel-making commodity in the three months ended March 31.

Steel consumption was suppressed in the short term due to rainy weather in southern regions of China.

The decline was mainly due to the unreliability of equipment used to handle ore consignments at Saldanha Bay Port, Kumba said.

China's first quarter imports of iron ore and its domestic production of the steel raw material both rose strongly, but output of crude steel fell.

Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in China.

Iron ore has gained more than 15% so far this month.

Miner shares have trailed falling iron ore prices, which have sunk by 17% this year.