CHART: China’s stranglehold on electric car battery supply chain
China has not only shoved aside the US for rare earths, cobalt, graphite and lithium production – new study shows it controls 93% of world's manganese going into EVs.
The government has also said it supports introducing a new mining code, but previous attempts to introduce new legislation have been stalled for several years due to political and industry resistance.
Platform aims to help local suppliers bid for contacts related to the Plan Nord, a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years.
Countries heavily reliant on their extractive sectors need to step up efforts to lure investors or they will see their infrastructure sectors stalled, warn analysts.
The funding, which includes direct investment and grants, aims to help the asteroid mining company launch its first commercial prospecting mission by 2020.
Lithium is enjoying a growth story unlike any other commodity these days, driven by the global emergence of the electric vehicle market, expanding demand for high‑capacity energy storage and the ubiquitous presence of ever‑lighter, more powerful, consumer handheld devices.