Oil, coal, iron ore demand could peak in 20 years

Singapore

DEMAND for oil, coal and iron ore could peak in the next two decades as advances in technology result in less resource-intensive global economic growth.

At the same time, China's voracious appetite for resources in the past decade - which had helped to propel prices of commodities higher in the supercycle - is unlikely to be matched by any other country in future, including India, according to a study by McKinsey Global Institute (MGI).

Rapid advances in automation technologies such as artificial intelligence, robotics, analytics and the Internet of Things are starting to transform the way resources are produc…