The company has already spent $16 billion buying three lithium mines over the past year.

Consumers, producers, commodity traders, brokers and banks are backing the CME's cash-settled contract as they want a liquid instrument to hedge cobalt.

Relentless rise of lithium prices and recent bounce in cobalt and nickel put pressure on electric vehicle manufacturers.

Dubbo site contains light and heavy rare earths, zirconium, niobium and hafnium.

The Asian country controls a third of the $46 billion market for electric vehicle batteries.

China's Tsingshan, one of the world’s top nickel producers, is currently building a $1 billion stainless steel plant in Zimbabwe

Indonesia has already started producing EV battery parts extracted from nickel.

The fund’s objective is to spur innovation for a better Canada by providing funding for large projects and national innovation ecosystems.