As Elon Musk calls for more nickel production, a mining analyst has some suggestions – by Darren MacDonald (CTV News Northern Ontario – July 24, 2020)

https://northernontario.ctvnews.ca/

SUDBURY — Earlier this week, Tesla boss Elon Musk called for global mining companies to boost their production of nickel, a key element in making batteries for electric cars.

“Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way,” Musk said Wednesday, as the company announced second-quarter results. “Don’t wait for nickel to go back to some high point you experienced five years ago … Wherever you are in the world, please mine more nickel.”

Musk made the comments as Tesla is boosting its production of electric vehicles. Overall, demand for the type of nickel needed in electric car batteries grew by 28 per cent in 2019 alone.

Mining analyst Stan Sudol said if Musk needs more high-grade nickel, he need not look further than the Sudbury basin.

“Polish miner KGHM has a terrific nickel deposit – the Victoria deposit in the Sudbury Basin,” Sudol said in an email to CTV News. “Why doesn’t Musk try to buy the deposit from KGHM and hire contractors to build and run his own mine? He would get nickel, copper and some cobalt for his car batteries.”

For the rest of this article: https://northernontario.ctvnews.ca/as-elon-musk-calls-for-more-nickel-production-a-mining-analyst-has-some-suggestions-1.5037952

Comments are closed.