Earlier this week Global X ETFs Australia announced the launch of new first of its kind ETF to launch on the ASX. The Global X Green Metal Miners ETF (GMTL) looks to offer exposure to global companies that help produce metals that are critical for clean energy and technologies using lithium, nickel, copper, cobalt, and rare earths. GMTL does this by tracking the BITA Global Green Energy Metals Index composed of companies with 50% of their revenue coming from mining or producing green metals. A quote from the head of investments at Global X ETFs Australia states, “Demand for green metals is soaring around the globe and promises to intensify as climate change initiatives become more ambitious… The investment opportunity lies in the market dislocation of critical minerals over the medium to longer term – with demand set to outpace supply and spark higher commodity prices.”
The new launch adds to Global X ETFs Australia’s existing suite of more than 20 ETFs with $5 billion in assets under management.