August 11, 2017    1 minute read

Miners Focus on Car Batteries

   August 11, 2017    1 minute read

Miners Focus on Car Batteries

Glencore and BHP are both talking up their exposure to raw materials needed for lithium-ion battery production.

Editor’s Remarks: Glencore is the world’s largest producer of cobalt, a key input into lithium-ion battery production, and is also a major producer of nickel and copper which are used in the production of electric car motors and invertors. At its investor presentation for first half results, CEO Ivan Glasenberg estimated that by 2030, the world would need an extra annual supply of two million tonnes of copper, 1.2 million tonnes of nickel and 260,000 tonnes of cobalt. Current global demand for these metals is 23 million tones, 2.1 million tonnes and 100,000 tonnes, respectively. Australian miner BHP has also been singing from the same hymn sheet as it revealed plans to turn itself into the world’s largest supplier of high-grade nickel by investing in its Nickel West mine in Western Australia targeting an annual 100,000 tons of output.

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