The mining sector is at an inflection point. Historically associated with polluting materials like coal, the industry has a huge role to play if the world is to transition itself away from fossil fuels.

However, while long-term targets remain around net zero, there are hints of governments backsliding on these commitments and prioritising other things like energy security.

That makes it very difficult for the sector. Mining executives know that, very likely, significant demand is coming down the track but it’s harder to judge exactly when and how this demand will come through.

And miners can’t just start up operations at the drop of a hat. It takes years to bring a mine on stream and there is a danger of big constraints on supply in the future.

Making long-term decisions with limited visibility doesn’t necessarily chime with being a public company. Just look at Glencore’s (GLEN) recent decision to abandon plans to spin-off its coal business. Basically, the cash this part of the group is generating in the here and now told over any incentive for Glencore to make itself a more acceptable supplier of materials to developers of renewable energy and electric vehicle infrastructure at some uncertain point in the future.

As an investor, If you have time on your side, you could take the view that miners will at some point be beneficiaries of the energy transition and position yourself accordingly through diversified funds or trackers focusing on the sector. For managers of more individual mining companies it is a more difficult conundrum.

We cover the bid interest in property listings site Rightmove (RMV) elsewhere in the magazine this week in more detail but this author, for one, would like to see the company resist the overtures from REA unless the offer reaches a level where it would be irresponsible to turn down. This is one of the best quality businesses on the UK stock market so to see it disappear would have wider resonance.

Certainly, you feel any bid should be pitched at a healthy premium not just to today’s price but also to the all-time highs the stock reached in late 2021. Earlier this year Currys (CURY) firmly resisted opportunistic interest and shareholders have benefited from gains in the share price in the interim.

Hopefully Rightmove’s major shareholders and board show similar resolve as they come under the crosshairs of REA.

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