The federal government-controlled miner has already announced plans to invest in solar wafer manufacturing and power generation.

Miners are racing to raise money and expand projects, with global demand for the electric-vehicle battery metal set to soar in the coming decade.

Fitch expects the NMC chemistry to remain dominant, owing to the superior energy density of high-nickel variations, which improve vehicle range and charging speeds.

Once one of the world's most powerful oil traders, Alex Beard is now raising money to build a portfolio of strategic battery sites across the UK.

Unlike lithium-ion batteries, iron flow batteries are really cheap to manufacture.