As the world moves to meet stringent targets for cutting carbon emissions, demand for lithium, cobalt and nickel vital for electric vehicle batteries will soar.
Blast furnaces using coal could become unnecessary or inoperable, resulting in "stranded assets" worth $47 billion to $70 billion, the Global Energy Monitor said.
The spread between low- and high-grade iron ore has blown out to the highest on record in dollar terms, suggesting Chinese steel mills are trying to maximise output by using as much of the best quality ore as possible.
The nickel miner has taken 49% in a joint venture that gives it 25% in the Greenbushes lithium mine and 49% in the Kwinana processing plant in Western Australia.