Nornickel to boost Taimyr mining by 75% to support the world’s shift to electric mobility – by Thomas Nilsen (Barents Observer – November 20, 2019)

10-years strategic ambition for mining on the Arctic tundra is set to 30 million tonnes per year, the Russian metal-giant said at its annual capital markets day.

Nornickel, describing itself as «the world’s best Tier-1 mining resource», says its unique commodity basket gives the company the best position to support the world’s shift to clean energy mobility.

The announcement to boost production of core metals for battery production comes as the International Energy Agency (IEA) estimates sales of electric vehicles (EV) to reach 44 million annually by 2030, up from about 2 million in 2018.

With a mining capacity of 30 million tons ore on the Taimyr Peninsula by 2030, Nornickel says annual production of nickel would be 250 to 250 thousand tons and 520 to 560 thousand tons of copper. That is an increase of up to 30% of nickel production and up to 40% of copper production.

Both nickel and copper are core metals in batteries for electric cars, buses and ships. «We believe that we could supply enough nickel to produce 3.5 to 5.5 million nickel-rich EV battery packs, which could reduce global CO2 emissions by 50-100 million tonnes over the EV’s life cycle,» the capital market days announcement reads.

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