Why battery raw material prices slumped under pressure in the first half of 2023
Originally posted on source.benchmarkminerals.com Prices of critical battery materials such as lithium, cobalt, nickel and graphite, were under pressure in the first six months of this year as a slowdown in China hit downstream demand and new supplies continued to enter the market. Critical battery material prices declined between 20% and 40% in the first […]
Canada to speed up critical minerals permits in bid to erode China’s dominance
Originally posted on Bloomberg.com Prime Minister Justin Trudeau’s government hopes to unveil a plan by the end of this year to streamline permitting for mining projects as the US and its allies push to accelerate the production of critical minerals in North America. Canada faces mounting pressure to keep pace with its southern neighbor as […]
Financing the battery arms race: the $514 billion cost of bridging the global EV supply chain divide
Originally posted on Benchmark Source Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Demand for lithium ion batteries is forecast to grow to 3.7 terawatt-hours by 2030, up from […]
Critical Mineral Projects Capital Constrained as Banks Neglect to See Past Lithium
Originally posted on theassay.com Despite the growing need for increased critical minerals production, junior mining companies are struggling to receive the necessary funding to support new and ongoing projects. “We’re in a supply and demand situation where everybody is saying they want more supply and there’s not a lot of financing alternatives available.” Richard Pearce, […]
Critical Minerals Are Critical to The World’s Future
Originally posted on theassay.com It wasn’t that long ago that miners were considered a global environmental scourge. Nowadays, in many quarters, miners are considered a key to saving the world’s environmental future – thanks to critical minerals. What are critical minerals and why are they critical? International law firm, Gowling WLG, says the pivotal role […]
Who Will Finance the Energy Transition’s Mining Projects?
Originally posted on Investingnews.com “The issue is that it seems to be easier to raise money if you’re building a gigafactory than if you are building a mine,” said Simon Moores of Benchmark Mineral Intelligence. Lithium-ion batteries are at the forefront of the electric vehicle and energy storage revolution, and they’ve been attracting more attention […]
Cobalt to Remain Key EV Raw Material Despite Substitution Threats
Originally posted on investingnews.com The Cobalt Institute’s 2022 market report shows that cobalt will continue to play a key role in the energy transition, with demand doubling by 2030. Weaker market conditions have put cobalt prices under pressure in the past few months, but the long-term outlook for the key battery metal remains robust, says […]
EV sales are soaring and oil use is about to peak
Originally posted on Mining.com Today, we at BloombergNEF published our annual Electric Vehicle Outlook. The report looks at how the different segments of road transport could evolve over the coming decades and maps the impact on oil markets, electricity demand, batteries, metals and materials, charging infrastructure and greenhouse gas emissions. There’s a lot of different […]
Global EV Outlook 2023
Originally posted on IEA.ORG The global auto industry is undergoing a sea change, with implications for the energy sector, as electrification is set to avoid the need for 5 million barrels of oil a day by 2030 Global sales of electric cars are set to surge to yet another record this year, expanding their share […]
Breaking down clean energy funding in the Inflation Reduction Act
Originally posted on Mining.com Breaking down clean energy funding in the Inflation Reduction Act The Inflation Reduction Act (IRA), signed into law on August 16, 2022, is the largest climate legislation in U.S. history. Along with fighting inflation and boosting domestic manufacturing, the IRA ultimately aims to help the U.S. achieve its goal of reaching […]