BofA warns miners are 'underspending massively'

THE global mining sector needs to boost capital expenditure by US$81 billion annually to 2030 just to meet the expected increased demand for metals used in the energy transition if decarbonisation and climate targets are to be met, Bank of America Global Research has warned.

BofA warns miners are 'underspending massively' BofA warns miners are 'underspending massively' BofA warns miners are 'underspending massively' BofA warns miners are 'underspending massively' BofA warns miners are 'underspending massively'

Global mining capex averaged around $99.5 billion a year in the past decade but included investments in sectors such as iron coal and coal, according to BofA.