Battery Technology Innovation/Electric Vehicles – Page 32

Why the world finds itself in a Greenland ‘gold rush’ – by Isabeau van Halm (Energy Monitor – July 3, 2023)

July 4, 2023

https://www.energymonitor.ai/

Melting ice in Greenland is exposing the country’s critical mineral resources. Mining companies, governments and billionaires are all eyeing the largely underexplored wealth.

Ice loss from Greenland hit a new record this year. The latest report from the European Space Agency shows that ice loss from Greenland and Antarctica has increased fivefold since the 1990s due to climate change. The receding ice is exposing Greenland’s rich mineral resources. Still largely unexplored, companies and governments are now eyeing mining in Greenland, including for the critical minerals needed for the energy transition.

The Artic has long been of geopolitical significance. Areas with vast mineral deposits can be found in north-east Asia, and northern Canada has large reserves of nickel, copper, cobalt and rare earths, among others. Both Russia and China are building nuclear-powered icebreaker ships that are able to mine the Arctic. In 2019, former US President Donald Trump said he wanted to buy Greenland.

UK’s first commercial lithium mine could supply two-thirds of the country’s needs by 2030 – by Julia Robinson (Chemistry World – July 4, 2023)

July 4, 2023

https://www.chemistryworld.com/

The UK’s first commercial lithium mine is to open in Cornwall, following a new partnership between Imerys, the world leader in mineral-based solutions, and British Lithium.

It has been estimated that the site contains enough lithium to sustain mining there for 30 years, producing around 20,000 tonnes of lithium carbonate equivalent annually. By the end of the decade, the mine should be producing enough of the metal for batteries to power 500,000 electrical vehicles per year.

Indonesia’s coal burning hits record high — and ‘green’ nickel is largely why – by Hans Nicholas Jong (Mongabay.com – July 3, 2023)

July 4, 2023

https://news.mongabay.com/

JAKARTA — Indonesia burned more coal in 2022 than any other year, a preliminary analysis shows, putting the country on track to become one of the largest carbon emitters from fossil fuel in the world.

Data from the Indonesian Ministry of Energy and Mineral Resources showed that coal consumption amounted to 745.72 million barrels of oil equivalent (BOE) in 2022, a 33% increase from 558.78 million BOE in 2021. The data shows the country’s coal consumption to be the highest ever by a very large margin.

US measure would ban products containing mineral mined with child labor in Congo – by Taiwo Adebayo (ABC News/Associated Press – July 3, 2023)

July 4, 2023

https://abcnews.go.com/

New U.S. legislation would ban imported products containing critical green transition minerals mined by child labor in Congo

ABUJA, Nigeria — A measure has been introduced in the U.S. House to ban imported products containing minerals critical to electric vehicle batteries but mined through child labor and other abusive conditions in Congo, where China has enormous mining stakes.

The bill targets China, which sponsor Republican Rep. Chris Smith of New Jersey says uses forced labor and exploits children to mine cobalt in the impoverished but resource-rich central African country.

Mineral-Rich Developing Nations Demand Bigger Piece of the EV Pie – by Jon Emont, Juan Forero and Alexandra Wexler (Wall Street Journal – July 1, 2023)

July 4, 2023

https://www.wsj.com/

Their policies are aimed at making the most of the clean-energy shift, but they also create challenges for it

Across the developing world, mineral-rich nations say they are moving to end the era of extract and export. Countries with vast deposits of the ingredients essential to making electric vehicles are digging in and trying to take a bigger share of the expected EV boom.

In parts of Latin America, Africa and Southeast Asia, governments are restricting the export of raw minerals, demanding that miners build processing plants locally and looking to tighten control over foreign-operated mines. The steps are sometimes described as resource nationalism, and their increasing popularity is reshaping supply chains that underpin the shift toward cleaner forms of energy.

Lithium Scarcity Pushes Carmakers Into the Mining Business – by Clifford Krauss and Jack Ewing (New York Times – July 2, 2023)

July 4, 2023

https://www.nytimes.com/

Eager to avoid falling further behind Tesla and Chinese car companies, many Western auto executives are bypassing traditional suppliers and committing billions of dollars on deals with lithium mining companies.

They are showing up in hard hats and steel-toed boots to scope out mines in places like Chile, Argentina, Quebec and Nevada to secure supplies of a metal that could make or break their companies as they move from gasoline to battery power.

Glencore moves to take full control of PolyMet, developer of Minnesota copper-nickel mine – by Steve Karnowski (Associated Press – July 3, 2023)

July 4, 2023

https://apnews.com/

MINNEAPOLIS (AP) — Swiss commodities giant Glencore moved Monday to take full ownership of PolyMet Mining, a company that’s developing a copper-nickel mine in northeastern Minnesota with one of Canada’s largest miners, Teck Resources.

Glencore already owns 82% of PolyMet Mining and has long been the project’s main financial backer. It offered Monday to pay around $71 million to raise that stake to 100%, which would take St. Paul-headquartered PolyMet private. Glencore’s proposal represents around a 167% premium over PolyMet’s closing stock price on Friday, and shares surged on the news in Monday’s trading.

China jumps ahead in the rush to secure lithium from Africa – by Annie Lee (Bloomberg News – July 3, 2023)

July 4, 2023July 4, 2023

https://www.bnnbloomberg.ca/

China’s early move to tap new centers of lithium supply across Africa is reaping rewards, helping the top electric-vehicle battery producer navigate a tight market for the key metal.

Spurred by a flurry of investment from Chinese companies, mines across the continent are forecast to increase production of lithium raw materials more than 30-fold from last year’s volume by 2027, according to S&P Global Commodity Insights. Africa will account for 12% of global supply by then, compared with 1% in 2022.

Threatened by shortages, electric car makers race for supplies of lithium for batteries – by Joe McDonald (Washington Post – June 27, 2023)

June 28, 2023

https://www.washingtonpost.com/

BEIJING — Threatened by possible shortages of lithium for electric car batteries, automakers are racing to lock in supplies of the once-obscure “white gold” in a politically and environmentally fraught competition from China to Nevada to Chile.

General Motors Co. and the parent company of China’s BYD Auto Ltd. went straight to the source and bought stakes in lithium miners, a rare step in an industry that relies on outside vendors for copper and other raw materials. Others are investing in lithium refining or ventures to recycle the silvery-white metal from used batteries.

Column: Court case shines a harsh light on London Metal Exchange – by Andy Home (Reuters – June 25, 2023)

June 28, 2023

https://www.reuters.com/

The first part of the London Metal Exchange’s (LME) courtroom drama is over after three days of legal argument at London’s Royal Courts of Justice. The LME, owned by Hong Kong Exchanges and Clearing, now awaits judgment on whether its cancellation of nickel trades on March 8 last year was lawful.

US-based hedge fund Elliott Associates and market maker Jane Street Global Trading (Jane Street) argue its action was unlawful and are demanding $472 million in damages. The 146-year-old exchange contends it was justified in closing the market and cancelling trades because $19.7 billion of margin calls would otherwise have triggered a “death spiral” of member defaults.

Court to hear appeal over Biden-backed Nevada lithium mine opposed by tribes, environmentalists – by Scott Sonner (Associated Press – June 27, 2023)

June 28, 2023

https://apnews.com/

RENO, Nev. (AP) — A U.S. appeals court will consider challenges Tuesday to a huge lithium mine in Nevada in a case that pits environmentalists and Native Americans against President Joe Biden’s plans to combat climate change and could have broad implications for mining operations across the West.

For the first time since it blocked construction of an Arizona copper mine last year, the 9th U.S. Circuit Court of Appeals was scheduled to hear oral arguments in a two-year-old legal battle with striking similarities to the Arizona case. The Nevada mine is in the works near the Oregon line and would involve extraction of the silvery-white metal used in electric-vehicle batteries.

Should Big Oil Get Into The Lithium Business? – by Irina Slav (Oil Price – June 26, 2023)

June 28, 2023

https://oilprice.com/

In March 2021, Schlumberger announced a pilot project led by its subsidiary Schlumberger New Energy. The project was supposed to test a new method of extracting lithium much more quickly and efficiently.

Also in 2021, a joint venture between All-American Lithium and an Occidental Petroleum subsidiary received a package of patents for new lithium extraction technologies and processes.

Fast-forward three years and Exxon has also joined the lithium show. The supermajor last month said it had acquired drilling rights for an area in Arkansas with the potential for substantial lithium reserves. Big Oil is quietly going into lithium.

Chile Details Its National Lithium Strategy – by Catherine Osborn (Foreign Policy – June 23, 2023)

June 26, 2023

Home

The country’s moves are being closely watched amid the global scramble for critical minerals.

When Chilean President Gabriel Boric announced preliminary plans for a national lithium strategy in April—one that would increase government participation in the lucrative sector—details were scarce. Investors gained some clarity last week when the Chilean government released a 33-page document that expands upon its initial pledges with specific timelines and targets.

Chile is currently the world’s second-largest producer of lithium, a critical mineral that is used in electric car batteries and key to the global green energy transition.

Miners must limit environmental impacts – King – by Esmarie Iannucci (MiningWeekly.com – June 26, 2023)

June 26, 2023

https://www.miningweekly.com/

PERTH (miningweekly.com) – Australia’s mining and downstream processing companies will need to move to a more sustainable footing in order to benefit from the future demand for critical minerals, federal Resources Minister Madeleine King said on Monday.

“We know the road to net zero runs through Australia’s resources sector. But we must do more to help Australians understand that the resources sector provides significant economic benefits to our country, as well as opportunities to share the benefits with First Nations communities and regional communities,” King said in a speech to the World Mining Congress in Brisbane.

Billionaire Miner Friedland Warns of a Copper ‘Train Wreck’ as Supply Stalls – by James Attwood and Jacob Lorinc (Bloomberg News – June 26, 2023)

June 26, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of accelerating demand, warns the man behind some of the world’s biggest mines.

Demand for critical raw materials is set to jump as nations mandate clean energy and transport while clambering to develop their own supply chains. But a combination of factors suggests supply won’t keep pace, according to billionaire Robert Friedland.