The global mining & metals sector spent 2019 balancing two competing forces. Global energy transition driving the change and demand. The energy transition from fossil-based fuels to lower carbon alternatives is underway. Concerns surrounding the macro picture grew, as a Chinese slowdown that started in 2018 was exacerbated by global trade tensions and slowing manufacturing across Europe and the US. However, this was partially offset by increasingly tight supplies of metals amid dwindling stockpiles, demonstrating that the underlying fundamentals of the industry remained strong. While it is a threat for the fossil fuel based energy sector, it is also driving significant new opportunities, including demand for reliable and cost effective energy storage and, with it, demand for different types of minerals, such as lithium, cobalt and alternative battery materials.