Sustainable supply of key minerals is a substantial basis for new energy industries. This paper reviews the commodities, demands and supplies of key minerals during energy transformation. Energy industry has been long depending upon metal resources, and the current key minerals refer to the necessary materials demanded by green, clean and low-carbon IT industries during energy transformation, such as REE, Indium, PGM, Cobalt, Germanium and Tungsten. Research of existing key minerals security mainly focuses on supply, less on economy and ecology, from which the major issues are discussed. China has competitive minerals industrial chain, but not robust, higher producing costs leading to loss of relative advantages. China lacks key metals pricing centers and authentication warehouses. High tailings rate of associated minerals and safety issues are existing. This paper presents points needing further studies on global cooperation, industrial chain and value chain, finding out reasons of high cost of China's competitive key minerals, researching futures and stock pricing mechanism of China's key minerals based on Shanghai Futures Exchange, and evaluating eco-environmental impacts during developing key minerals and complemental industries and environmental protection policies.