Glencore and the perils of riding the electric vehicle tiger
The battery metal that was supposed to power Glencore's earnings has rapidly turned into a liability.
The battery metal that was supposed to power Glencore's earnings has rapidly turned into a liability.
Adjusted net income attributable to the company rose to $164.3 million, or $1.55 per share, in Q2.
The plant will convert lithium carbonate feedstock sourced from the Olaroz project in Argentina into battery grade lithium hydroxide.
After years on the block, BHP declared its nickel business core in May on the back of promising demand expectations from the electric vehicle industry.
Battery producers and electric automakers, including Tesla, are concerned over longer-term supplies of nickel.
Big names like BHP and Glencore can't seem to agree on which metals will deliver the best long-term exposure to the developing global market.
Electric-car makers, battery makers, and consumer-technology companies have remained silent from the debate over deep-sea mining.
The world's biggest miner will face a test of its ability to move beyond bulk mining.
The updated technical report puts the after tax NPV at $2.3 billion (8% discount) and the after tax IRR at 27.4%.
Indonesia's largest tin miner estimates output to reach around 70,000 tonnes this year.