While global electric vehicle (EV) sales are back to a healthy growth trajectory, significant investment in mining capacity is required if EVs are to become anything more than a niche market, says mining entrepreneur Robert Friedland’s Clean TeQ Holdings.
The TSX- and ASX-listed company owns the construction-ready Sunrise nickel/cobalt/scandium project in New South Wales, Australia, and will require just under $2-billion to bring the project to fruition.
Nickel and cobalt, in particular, face substantial raw material challenges, at a time when EV sales growth is expected to drive unprecedented demand for these metals.
“The transition to cleaner and more efficient forms of energy is inexorable. It always has been. What is rarely understood is the profound impact these transitions have on supply chains and raw materials,” says Friedland. “We are sitting at the foot of an enormous wave that is gathering momentum.”