A Blog for Browsing Mining, Mineral Processing, and Metals Info

Demand:

Historically, close to 70 per cent of refined nickel went into the manufacturing of stainless steel. In recent years, demand for nickel has been shifting to its use in EV batteries. Electric-vehicle battery demand now accounts for 5 per cent of overall nickel production. A typical 60-kilowatt-hour EV battery contains 40 to 50 kilograms of nickel. According to the U.S. Bureau of Labour Statistics, EVs will make up between 40 per cent and 50 per cent of new vehicle sales in 2030. In China, EV demand is projected to be similar.

Current global vehicle sales are in the 70 million to 80 million range. Using the 40-per-cent EV sales estimate, we would forecast total sales of 35 million electric vehicles by 2030. For comparison, the International Energy Agency estimates EV sales will then be around 45 million vehicles annually.

With the 40 to 50 kilograms of nickel per vehicle estimate, we would require between 1.5 million and two million tonnes of nickel annually for these EVs. Mining Weekly sees nickel output likely to reach 3.8 million tonnes in 2030. Brazilian mining company Vale SA sees demand as high as 6.2 million tonnes by 2030.

Outlook:

In the short term, increased Indonesian production, a slow Chinese reopening and recession fears are dampening the price of nickel. Looking further out, demand from EVs and other climate targets will cause a constrained supply that will require substantial price increases or a shift in technology.

Read more at: https://www.theglobeandmail.com/investing/investment-ideas/article-will-we-have-enough-nickel-for-our-evs-in-2030/

PRESS RELEASE April 13, 2023

CUPERTINO, CALIFORNIA Apple today announced a major acceleration of its work to expand recycled materials across its products, including a new 2025 target to use 100 percent recycled cobalt¹ in all Apple-designed batteries. Additionally, by 2025, magnets in Apple devices will use entirely recycled rare earth elements, and all Apple-designed printed circuit boards will use 100 percent recycled tin soldering and 100 percent recycled gold plating. 

Read more at: https://www.apple.com/newsroom/2023/04/apple-will-use-100-percent-recycled-cobalt-in-batteries-by-2025/

Anyone looking for evidence of the green economy in Canada would do well to drive about six hours north of Montreal to the town of La Corne in the Abitibi region of Quebec, where the first — and for now the only — large-scale lithium mine in North America has begun operating.

Anyone looking for evidence of the green economy in Canada would do well to drive about six hours north of Montreal to the town of La Corne in the Abitibi region of Quebec, where the first — and for now the only — large-scale lithium mine in North America has begun operating.

But the world has changed dramatically in those four years. Most big countries have set out plans to neutralize carbon emissions over the next few decades and the United States and its democratic allies are moving aggressively to orient supply chains away from China. The new owners of the La Corne mine estimate the mine will produce 120,000 tonnes of hard rock lithium spodumene this year, and 226,000 tonnes per year once it is in full swing. Tesla Inc. and South Korea’s LG Chem Ltd. have already lined up as buyers.

Read more at: https://financialpost.com/commodities/mining/tesla-lines-up-lithium-evs-large-quebec-mine

Ford has joined PT Vale Indonesia and China’s Zhejiang Huayou Cobalt in a joint venture nickel processing plant being built in Indonesia to secure supplies of the mineral for its electric vehicle batteries.

The exact amount of the investment was not announced, but the facility will have an annual output of 120,000 tons of mixed hydroxide precipitate, an extract from nickel ore that is used in EV batteries, when it is fully operational.

“Ford can help ensure that the nickel that we use in electric vehicle batteries is mined, produced within the same ESG standards as part of our business around the world,” Christopher Smith, Ford’s chief government affairs officer, said at the signing ceremony.

Read more at: https://www.foxbusiness.com/lifestyle/ford-investing-indonesia-nickel-plant-kentucky-batteries

ASTANA, March 18 (Reuters) – Britain will help Kazakhstan develop export routes bypassing Russia, British Foreign Minister James Cleverly said on a visit to the Central Asian nation on Saturday, where he also signed a memorandum on supplies of critical minerals.

Cleverly said London valued the position of Astana – which has traditionally been closely allied with Moscow – on the Ukrainian conflict. Kazakhstan has refused to support Russia’s invasion or recognise its annexation of Ukrainian territories.

Read more at: https://www.reuters.com/world/uk-help-kazakh-exports-bypass-russia-seeks-critical-minerals-2023-03-18/

The European Union proposed classifying copper and nickel as critical raw materials in landmark legislation designed to bolster supplies, alongside other metals key to the energy transition.

Inclusion on the EU’s new critical raw materials list would underscore growing political angst over long-term supplies of the metals as the global decarbonization drive turbocharges demand. The new Critical Raw Materials Act — presented to lawmakers on Thursday — could open the door to expedited permitting and financing of copper and nickel mining projects in the EU, as the bloc looks to boost domestic production and ease reliance on imports.

Read more at: https://www.bloomberg.com/news/articles/2023-03-16/eu-proposes-designating-copper-and-nickel-as-critical-metals?leadSource=uverify%20wall

Volkswagen chose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region.

Volkswagen AG confirmed in December it was looking for sites for a Canadian plant, six months after signing a memorandum of understanding with the country to secure access to key raw materials for batteries.

Canada, home to a large mining sector for minerals including lithium, nickel and cobalt, is trying to woo companies involved in all levels of the EV supply chain via a multi-billion-dollar green technology fund as the world seeks to cut carbon emissions.

Read more at: https://www.reuters.com/business/autos-transportation/volkswagen-build-first-north-american-battery-cell-plant-canada-2023-03-13/

A recent set of sweeping US laws have already kicked off a boom in proposals for new mining operations, minerals processing facilities, and battery plants, laying the foundation for domestic supply chains that could support rapid growth in electric vehicles and other clean technologies.

That’s by design. A stipulation in the Inflation Reduction Act (IRA), enacted last year, restricts EV tax credits to vehicles with batteries that contain a significant portion of minerals extracted or refined within the US, or from countries that have free-trade agreements with it. Manufacturing the batteries that power these vehicles requires significant amounts of finished materials such as cobalt, graphite, lithium, manganese, and nickel. Today these often come from other nations, particularly China.

Read more at: https://www.technologyreview.com/2023/03/13/1069658/us-minerals-industries-are-booming-heres-why/