Hormuz crisis hits global mining

Mining giants are warning that a prolonged conflict in the Middle East could lead to a 'tightening' of essential resources required for mineral extraction.

The surge in energy costs has made many projects financially unviable, with some firms already reporting a 57% drop in output compared to pre-war levels.

The crisis is also impacting the production of critical minerals needed for the green energy transition, such as lithium and copper.

Analysts suggest that the industry may need months to recover even if the waterway is reopened in the near term.