#Forbes: #Tesla As A Mining Company. #Lithium Today, #Nickel Tomorrow?
Price is one reason why Tesla might be looking at its own supplies of nickel with a strong recovery developing as the primary market for the metal, stainless steel, picks up, especially in China.
From $5 a pound as recently as March nickel has risen to trade around $6.50/lb and is forecast by Morgan Stanley to top the $7/lb mark next year.
Environmental sustainability is another issue with questions routinely raised about a mining and processing technology called Nickel Pig Iron which has caused problems in country’s such as Indonesia and the Philippines.
If Tesla is serious about ensuring future supplies of essential raw materials then nickel ought to be top of its mining plans.