Limit of recovery: How future evolution of ore grades could influence energy consumption and prices for Nickel, Cobalt, and PGMs

•The demand for metals is expected to continue growing in the coming years.•Ni, Co, and PGMs are strategic metals for technological development and society.•Cost allocation is essential for calculating production energy costs.•Extracting from the calculated cut-off grade (LOR) would require high energy costs.•Despite volatility, metal prices are expected to increase at lower concentrations.