US-Israel Conflict with Iran Disrupts Global Mining and Metals Markets
The ongoing conflict between the US-Israel coalition and Iran, which began on February 28, 2026, is significantly impacting global mining and metals markets. The primary transmission channels are through increased energy costs and logistical disruptions, particularly affecting processing infrastructure. A ceasefire brokered by Pakistan on April 8 has temporarily reduced escalation risks but has not restored normal operations across energy and shipping systems. The Strait of Hormuz, a critical maritime chokepoint, remains a focal point of disruption, affecting oil trade and increasing insurance premiums. The mining industry faces rising costs and processing disruptions, especially in aluminium smelting, due to energy constraints and infrastructure damage. 
