(Reuters) -Benchmark Mineral Intelligence, a UK-based pricing and data research firm for energy transition minerals, has cut at least a fifth of its workforce in recent weeks, said three people familiar with the company.

The 11-year-old firm had been rapidly expanding over the last couple of years alongside growing market interest in lithium, copper and other minerals needed for electric vehicles and other clean-energy uses.

The layoffs include at least 40 people at Benchmark, the three sources said, out of a total workforce of 200 people. Two of the sources said affected departments included sustainability, sales and marketing.

CEO Andrew Miller in an email to Reuters said the firm had undergone a “recent restructuring.” He declined to comment further on Reuters questions regarding the

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