Missed the boat on ASX lithium shares? Mining veteran reveals 5 other commodities set to surge

Mining legend Bill Beament says people do not understand the scale of the green energy metals bull market that is coming.

Five guys in suits wearing brightly coloured masks, they are corporate superheroes.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  •  The man who grew gold miner Northern Star into an ASX 200 giant says green energy metals are the future of mining  
  • Bill Beament's company Develop Global has just announced an all-scrip deal to take over ASX lithium share Essential Metals 
  • Beament says five other commodities will also benefit from the coming bull market: copper, zinc, cobalt, nickel, and rare earths

ASX lithium shares have skyrocketed over the past few years as the value of lithium commodities soared.

In the past 12 months, despite a pullback in lithium prices, the share prices of many ASX 200 lithium miners have continued to rise.

Exciting mergers and acquisitions (M&A) activity in the second half of FY23 helped propel lithium stocks higher.

ASX 200 favourites Pilbara Minerals Ltd (ASX: PLS) shares and Allkem Ltd (ASX: AKE) shares rose by 113.5% and 55%, respectively, in FY23 — and neither was the strongest lithium performer of the year.

Of course, the historic demand for lithium in recent years mostly boils down to the rise of electric vehicle (EV) manufacturing. There is a long runway left for EVs as the world continues to decarbonise.

And while lithium is a big key to the energy transition, there are other commodities that will benefit.

If not ASX lithium shares, then which ones?

Australian mining legend Bill Beament says people do not understand the scale of the green energy metals bull market yet to run.

He says it will involve not just lithium but five other commodities as well: copper, zinc, cobalt, nickel, and rare earths.

Bill Beament is a highly-regarded Australian mining veteran who grew gold miner Northern Star Resources Ltd (ASX: NST) from a penny stock to an ASX 200 mega share.

In 2021, he left Northern Star and bought a stake in Develop Global Ltd (ASX: DVP).

The small-cap business is an energy transition metals explorer and mining services provider.

It's investing in green energy metals projects so it can take part in the broader global energy transition.

Develop Global owns copper, zinc, and gold projects and has recently announced an all-scrip deal to buy ASX lithium share Essential Metals Ltd (ASX: ESS).

Beament says:

… the commitments that every government has made, every big business, every car company on net zero and transmission of energy holy hell … the structural bull market coming – in copper, zinc, lithium, cobalt, nickel to a degree, rare earths – is just frightening.

Essential Metals shareholders have been told the all-scrip deal will allow them to become "part of a rapidly growing energy transition metals producer led by Bill Beament and his experienced team".

How to start your research on green metals shares

Motley Fool is here to help.

We have loads of educational stories designed to assist you in choosing your investments.

Beament mentions copper as one of the commodities set to surge in the transition.

Check out our ASX copper shares story.

You can also read about how the big ASX 200 miners are expanding their copper investments. See our recent articles on Rio Tinto Ltd (ASX: RIO) here and BHP Group Ltd (ASX: BHP) here.

Fun fact: Copper is one of the few commodities that the federal government expects to rise over the next five years from an anticipated average price of US$8,406 per tonne in FY23 to US$9,954 p/t in FY28.

We also have educational stories on ASX nickel shares and ASX rare earths shares to help you with your research.

My colleague Bernd wrote this story on what you need to know about cobalt shares last year.

And Tony Yoo discusses what's next for ASX lithium shares this year in this article.

Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

A man checks his phone next to an electric vehicle charging station with his electric vehicle parked in the charging bay.
Materials Shares

3 ASX lithium shares with huge upside to buy in March

Analysts are feeling bullish about these lithium stocks.

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Materials Shares

Why are Core Lithium shares jumping 12% on Friday?

Investors are buying this lithium miner's shares. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Materials Shares

Guess why this ASX battery materials share is surging 14% today

Investors have responded very positively to an announcement this morning.

Read more »

A close-up of a handshake depicting a business deal with one of the people in the background of the shot alongside a colleague looking pleased at the deal.
Materials Shares

Own BHP shares? Guess which star CEO just joined your board

The miner has named a current bank CEO as its new board member.

Read more »

Inspectors and workers discussing with each other at a mine site.
Materials Shares

Guess which ASX 200 mining stock could offer a 22% return

Goldman Sachs expects strong returns from this miner's shares.

Read more »

Man in yellow hard hat looks through binoculars as man in white hard hat stands behind him and points.
Materials Shares

One ASX mining sector at risk of more pain, and one ready to soar!

Experts weigh in on the potential winners and losers of Aussie mining amid over and under supply.

Read more »

Two young African mine workers wearing protective wear are discussing coal quality while on site at a coal mine.
Materials Shares

South32 share price jumps on $2.5b coal sale

This mining giant is offloading its coal assets in Illawarra.

Read more »

A happy businessman pointing up, inidicating a rise in share price
Materials Shares

Why are ASX lithium shares like Liontown having such a bumper session today?

Lithium shares are defying the broader market on Wednesday.

Read more »