RANKED: Top 20 EVs of 2021 – costs jump as lithium, cobalt, nickel prices surge
Ranking of world’s 20 best selling electric cars and their battery metals show automakers grappling with soaring raw material prices.
Ranking of world’s 20 best selling electric cars and their battery metals show automakers grappling with soaring raw material prices.
Indonesia has played a key role in global markets as a bulk materials supplier, but President Joko Widodo has pledged to eventually stop exports of all raw commodities to turn the country into a major manufacturing hub for electric transportation.
Nickel was the top performer among industrial metals, which also rallied as worries eased about economic growth in top metals consumer China.
Tesla agrees to buy 75,000 tonnes of nickel with a nominal value of $1.5 billion from Talon Metals-Rio Tinto JV starting in 2026.
The project has inferred resources of 8.47 million tonnes grading 0.82% nickel and 0.08% copper.
The Van zone is open for expansion to the south and west and potentially at depth.
It will initially invest $40 million in the Kabanga project, regarded as the world’s largest development-ready, high-grade nickel sulphide deposit.
The company will invest $40 million in privately-owned Kabanga Nickel and $10 million in Lifezone Ltd.
Refined nickel inventories in ShFE warehouses were last at 4,859 tonnes, close to a record low of 4,455 tonnes in August 2021.
Magna notes that the Shakespeare project is permitted, and that the feasibility study will be released in the first quarter this year.