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The cost of the rechargeable lithium-ion batteries used for phones, laptops, and cars has fallen dramatically over the last three decades, and has been a major driver of the rapid growth of those technologies. But attempting to quantify that cost decline has produced ambiguous and conflicting results that have hampered attempts to project the technology’s future or devise useful policies and research priorities.

Now, MIT researchers have carried out an exhaustive analysis of the studies that have looked at the decline in the prices these batteries, which are the dominant rechargeable technology in today’s world. The new study looks back over three decades, including analyzing the original underlying datasets and documents whenever possible, to arrive at a clear picture of the technology’s trajectory.

The researchers found that the cost of these batteries has dropped by 97 percent since they were first commercially introduced in 1991. This rate of improvement is much faster than many analysts had claimed and is comparable to that of solar photovoltaic panels, which some had considered to be an exceptional case. 

Read more at: https://news.mit.edu/2021/lithium-ion-battery-costs-0323

As a key component of battery cathode chemistry in many existing and upcoming electric vehicles (EVs), nickel will remain an important metal to watch in the coming decade, market analyst Fitch Solutions maintains in its latest industry report.

Impact of EV battery manufacturing on nickel consumption and now expects nickel demand for EV battery manufacturing to experience an annual average growth rate of 29% over 2021-2030, outpacing both lithium and cobalt demand, the analyst says.

The analyst also maintains the underlying assumption that NMC 811 cathodes will rise to 80.0% of NMC market share by 2027, which will effectively raise the average nickel content from 34.6kg to 44.5kg for each NMC cathode produced.

Automakers such as BMW, Hyundai and Renault use the NMC chemistry in their vehicles.

NMC cathodes once featured equal proportions of nickel, manganese, and cobalt, a blend called NMC 111. Over time, battery makers have increased nickel and reduced cobalt, using thermal management systems and electronics that regulate charging and discharging to reduce degradation of the cathode material. The latest generation of this formulation, with an 8:1:1 ratio of nickel to manganese to cobalt.

Read more at: https://www.mining.com/nickel-demand-for-evs-to-outpace-lithium-and-cobalt-report/

The European Union’s efforts to ethically source a key battery metal face headwinds that could make it more expensive for automakers to go electric.

“If, as proposed by the European Commission, due diligence on cobalt supply chain will be mandatory for batteries sold in the EU markets in the near future, the demand for responsibly sourced cobalt will increase rapidly,” the study prepared by the EU’s Joint Research Centre said.

But those “ambitious requirements might currently be too difficult,” according to an assessment prepared by researchers advising the European Commission. The report, which will be published by Elsevier Ltd.’s Resources Policy journal in June, suggests a tightening market for responsibly-sourced cobalt.

By 2030, EU economies need to secure more than 64,000 tons of ethically-sourced cobalt beyond existing supply-chain constraints, a volume of metal worth around $3.2 billion at current prices, to fuel the transition to electric vehicles. The run on the metal’s price is prompting mining companies to seek new reserves from Australia to the deep sea.

Read more at: https://www.bloomberg.com/news/articles/2021-03-13/electric-cars-will-cost-more-using-ethically-sourced-batteries

(Reuters) – U.S. Secretary of Energy Jennifer Granholm on Tuesday said the United States needs to boost domestic production of the minerals used to make electric vehicles, so long as it is done sustainably.

Granholm also suggested coal miners – who have been affected by falling demand from the power-generation sector – could transition to digging for EV metals.

“Having (coal workers) mine for critical materials is a natural shift for them,” said Granholm, a former Michigan governor who was confirmed last month as secretary.

Read more at: https://www.reuters.com/article/us-usa-mining-granholm-idINKBN2B12QA

Australia’s BHP Group Ltd. is moving its exploration headquarters for nickel and copper — two metals expected to see increased future demand because of electric vehicle industry growth — to Toronto.

The company’s announcement Wednesday comes after a BHP subsidiary Rio Algom Ltd. struck a partnership in August with Canadian junior Midland Exploration Inc. to fund nickel exploration in northern Quebec.

Read more at: https://financialpost.com/commodities/mining/bhp-moves-nickel-and-copper-hq-to-toronto-as-canada-emerges-as-new-mining-hotspot