Battery Technology Innovation/Electric Vehicles – Page 92

Before Invasion, Ukraine’s Lithium Wealth Was Drawing Global Attention – by Hiroko Tabuchi (New York Times – March 2, 2022)

March 4, 2022

https://www.nytimes.com/

Deep below the ground in Ukraine, where Russia continues to mount an aggressive attack, lies vast, untapped mineral wealth that could hold the keys to a lucrative, clean-energy future for the Eastern European nation.

Ukrainian researchers have speculated that the country’s eastern region holds close to 500,000 tons of lithium oxide, a source of lithium, which is critical to the production of the batteries that power electric vehicles. That preliminary assessment, if it holds, would make Ukraine’s lithium reserves one of the largest in the world.

OPINION:Local View: Canceling Twin Metals’ leases doesn’t jibe with Biden’s climate goals – by Mark Compton (Duluth News Tribune – March 3, 2022)

March 4, 2022

https://www.duluthnewstribune.com/

Mark Compton is executive director of the American Exploration & Mining Association (miningamerica.org), a 127-year-old, 1,300-plus-member national association based in Spokane Valley, Washington.

For years now, the United States has led the way in combating climate change. The administration of President Joe Biden has pushed for the widespread adoption of green technologies as a key part of that effort. If we fail to reach our goals as a nation, however, history may show the administration was its own biggest enemy.

The federal government’s recent decision to reverse its position and cancel Twin Metals Minnesota’s long-held mineral leases, in addition to proposing a 20-year mineral withdrawal in Northeastern Minnesota, demonstrates a stunning lack of understanding regarding the supply chains for green-energy technologies needed to fight climate change.

Chinese electric vehicle battery king urges Beijing to speed up lithium mining as global scramble for ‘new oil’ intensifies – by Iris Deng (South China Morning Post – March 3, 2022)

March 4, 2022

https://www.scmp.com/

Zeng Yuqun, chairman of China’s largest electric-vehicle (EV) battery manufacturer, has suggested that the Chinese government speed up “exploration and development” of lithium resources in the country to ensure supply chain security amid a global shortage of the rare earth metal as more people move to EVs.

Zeng, chairman of Contemporary Amperex Technology Limited (CATL), included lithium development as one of his proposals submitted to authorities in his capacity as a delegate of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political consultative body.

Nickel market eyes fate of Siberian metal as sanctions bite – by Annie Lee(Bloomberg News – March 2, 2022)

March 4, 2022

https://www.bnnbloomberg.ca/

The biggest risk in battery materials from Russia’s increasing economic isolation centers on supplies of top-notch Arctic nickel controlled by the country’s richest man.

Russia is a major producer of the metal that will be needed in huge quantities as the world’s auto fleet goes battery-powered. That means the electric-vehicle industry has much at stake as global businesses rejig ties in the wake of the invasion of Ukraine. Mining giant BHP Group on Monday warned of nickel supply shocks.

Is there a new supercycle in metals and minerals? – by Neil Hume (Financial Times – February 2022)

February 25, 2022

https://www.ft.com/

Low-carbon policies stoke demand for lithium, cobalt and copper, but investors must judge whether the boom will last

For years BHP has focused on investing in safe and stable countries such as Australia, Chile and Canada. But faced with the challenge of supplying the metals and minerals that will be needed in the shift to the low-carbon economy, the world’s biggest mining company is starting to take on more risk.

It has already taken a stake in SolGold, a London-listed explorer seeking to develop a huge underground copper deposit in Ecuador and last month threw its considerable weight behind a huge nickel project in a remote part of Tanzania as part of a strategy to “capture opportunities in future-facing commodities”.

Russia’s invasion of Ukraine to impact global aluminum supply; nickel prices surge – by Staff (S&P Global – February 24, 2022)

February 25, 2022

https://www.spglobal.com/

Russia’s invasion of Ukraine is expected to have a significant impact on global aluminum supply and prices, while the news sent nickel prices on the Shanghai Futures Exchange to a historic high Feb. 24.

The most-active nickel contract traded on the Shanghai Futures Exchange hit a historic high Feb. 24 as markets remain concerned about available inventories and export flow into China.

Biden says commercial-scale lithium extraction possible in Imperial Valley by 2026 – by Erin Rode (Palm Springs Desert Sun – February 22, 2022)

February 24, 2022

https://www.desertsun.com/

As the Imperial Valley begins its transformation into what some are calling Lithium Valley, one company says it could have lithium production at commercial scale by 2026, President Joe Biden said Tuesday at an event with Gov. Gavin Newsom, industry executives, community representatives and labor leaders.

Biden met with the group to announce several investments in domestic production of critical minerals and materials, including lithium extraction in Imperial County.

U.S. lawmakers blast Canada over sale of lithium mining company to Chinese firm – by Richard Madan (CTV News – February 23, 2022)

February 24, 2022February 24, 2022

https://www.ctvnews.ca/

A trio of U.S. lawmakers are blasting Canada’s “complicit approval” that allowed the sale of a Toronto-listed lithium mining company to a Chinese state-owned firm, and are urging Biden administration officials to investigate the acquisition.

In a letter to several U.S. Cabinet secretaries obtained by CTV News, Rep. Michael Walz (R-Florida), Elise Stefanik (R-NY) and Lance Gooden (R-TX) describe the takeover of Neo Lithium Corp by China’s Zijin Mining Group Ltd. as “highly concerning,” and accuse the Canadian government of underestimating “the threat imposed by the Chinese Communist Party.”

Return of Totten Mine comes at a good time – by Jim Moodie (Sudbury Star – February 22, 2022)

February 23, 2022

https://www.thesudburystar.com/

Price of nickel is soaring

Resumption of operations at Totten Mine comes at an opportune moment, with highly coveted nickel trading at more than US$11/pound. “We need all five (Vale) mines producing efficiently,” said Nick Larochelle, president of United Steelworkers Local 6500.

“The price of nickel right now is in a sweet spot. If it goes much higher, smaller producers will come online and that will add more nickel to the market, so we’re looking to keep our mines efficient and keep the price in that neighbourhood.”

Is China’s lithium quest fuelled by business or politics, and how far will it go to secure ‘white gold’? – by Ji Siqi (South China Morning Post – February 22, 2022)

February 22, 2022

https://www.scmp.com/

South America’s Lithium Triangle contains more than half of the world’s reserves of the critical metal that is used in batteries, and China is looking to carve out a bigger piece of the pie

Just days after Argentinian President Alberto Fernandez signed his country up for China’s Belt and Road Initiative during a high-profile trip to Beijing this month, the spot price of lithium metal in the Chinese market reached 2 million yuan (US$315,000) per tonne for the first time – more than four times what it cost a year ago.

The two countries happen to be the world’s major players in the supply chain of the metal – an essential material used in electric vehicle (EV) batteries.

Electric vehicle battery demand surge supercharges nickel – by Andy Home (Reuters – February 21, 2022)

February 22, 2022

https://www.reuters.com/

Nickel rose to its highest level in more than a decade on Monday morning. London Metal Exchange (LME) three-month nickel has broken through January’s high of $24,435 per tonne to reach $24,610, a level last traded in 2011.

Time-spreads remain in the grip of a ferocious squeeze, the cash premium closing last week valued at $465 per tonne. The huge incentive for LME delivery has drawn some metal into exchange warehouses but not enough to halt the running downtrend.

Rising Lithium Prices Could Derail The EV Boom – by Ag Metal Miner (Oil Price – February 17, 2022)

February 18, 2022

https://oilprice.com/

As the price of lithium has skyrocketed over 400% in the past year, the demand for lithium-ion batteries appears more intense than ever. Lithium has earned the ‘white petroleum’ label due to its dramatic need for supplies from the rise of battery giga-factories, electric vehicles, powerwalls and energy storage businesses.

Battery makers including Tesla, Panasonic and LG Chem, have to budget for the rising cost of lithium. Batteries that go into electric cars require lithium. More battery makers will need to expand production to keep up with demand from electric cars.

Gates, Bezos-backed firm gets cash injection to find battery metals – by Cecilia Jamasmie (Mining.com – February 10, 2022)

February 18, 2022

https://www.mining.com/

KoBold Metals, a start-up backed by a coalition of billionaires including Bill Gates and Jeff Bezos, has raised $192.5 million in its latest financing round, which will allow it to speed up efforts to find new deposits of critical metals needed for batteries and clean energy.

Investors in the Series B funding round for the company included Sam Altman’s Apollo Projects and Mary Meeker’s Bond Capital as well as BHP (ASX: BHP) and the Canada Pension Plan Investment Board, Canada’s largest pension fund, two people familiar with the matter told The Wall Street Journal.

Albemarle says ‘not impossible’ to meet surging lithium demand – by Nick Lazzaro (S&P Global – February 17, 2022)

February 18, 2022

https://www.spglobal.com/

The lithium industry may be able to narrow the gap between tight supply and expanding market growth by 2030, even as demand forecasts continue to rise and analysts warn of a large deficit, Albemarle executives said Feb. 17.

“I think you’re seeing that we’re getting through some of those growing pains,” CEO Kent Masters said during a call with analysts. “It is a stretch, and it does require some new technology and operating in some places where historically the lithium industry hasn’t done that, but it’s not impossible.”

Kinshasa is already Africa’s biggest city – could cobalt make it the richest? – by Jason Mitchell (Mining Technology – February 15, 2022)

February 17, 2022

https://www.mining-technology.com/

Kinshasa has had a turbulent past but has started to prosper as the Democratic Republic of Congo’s economy expands at more than 6% a year.

Kinshasa – the capital of the Democratic Republic of Congo (DRC) and Africa’s greatest megacity – is poised to benefit from the massive copper and cobalt boom under way in the country.

In terms of population, it is the continent’s largest city with 17.1 million people living in the greater area, only slightly smaller than the Netherlands (17.7 million). It is projected to become the world’s biggest city with a whopping 35 million inhabitants by 2050, 58 million by 2075 and 83 million by the start of the next century.