As the world moves to meet stringent targets for cutting carbon emissions, demand for lithium, cobalt and nickel vital for electric vehicle batteries will soar.
BloombergNEF turns super bullish about metals demand for batteries – ups forecast 35% to 2.7 terawatt hours per year by 2030 as electric cars take off.
The nickel miner has taken 49% in a joint venture that gives it 25% in the Greenbushes lithium mine and 49% in the Kwinana processing plant in Western Australia.
Chinese state and private investors have spent more than $16 billion over the last decade buying copper mines and projects including nearly 50 in Africa.