Carmakers are working to secure supplies of materials from lithium, nickel and manganese for batteries to magnesium for car components as they race to ramp up electric vehicle production.
The Global Palladium Fund announced the launching of its own physical EV metals exchange-traded commodities with $10 million of seed capital.
The proposal would still face a vote from the full assembly to be included in the final draft text, which would itself go before a national referendum vote later this year.
A proposal that opens the door to nationalizing some of the biggest copper and lithium mines in the world was approved in first instance.
Benedikt Sobotka said that the surging price of the metal, which rose by 119% in 2021, was giving a very clear message: the market is severely short of cobalt, a key ingredient in the batteries that power EVs.
Persistent hikes in raw material costs have been weighing on automakers for a while now.
Fortescue reported a 20% rise in costs over the past 12 months, driven in part by increased labor overheads.
BloombergNEF reports that global investment in the energy transition totalled $755 billion in 2021.
Researchers use niobium and tantalum as tracers to analyze magmas from four volcanoes and investigate their carbon dioxide emissions.