Don’t underestimate world demand for Nickel, CEO says – by Nicole Stoffman (Timmins Press – June 7, 2024)

Mineral remains a resilient investment for both stainless steel and batteries: Selby

The ever-ebullient CEO of Canada Nickel Company, Mark Selby, is bullish on Nickel, despite Canadian’s growing skepticism about electric vehicles.

According to an April survey from AutoTrader, the number of Canadians interested in buying an EV fell from 68 per cent in 2022 to 46 per cent in 2024. People are concerned about inadequate charging infrastructure, the cars’ limited range, higher cost, and performance in cold weather.

On the other hand, the sample of 2,000 Canadians also found that 59 per cent looked forward to driving an EV in the future, while the same percent would not rule out an EV for their next vehicle. AutoTrader also found that EV prices are declining in both new and used vehicles.

“The nice thing with nickel (unlike cobalt and lithium, which are very dependent on EVs in terms of future demand growth), is nickel’s historic demand growth has been largely stainless steel and alloys,” Selby said, in an interview at the Canadian Mining Expo on Thursday, June 6.

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