Tesla inks secret multi-year nickel supply deal with Vale
The deal is one of several the electric vehicles giant has forged over the last year to secure supply of battery metals.
The deal is one of several the electric vehicles giant has forged over the last year to secure supply of battery metals.
Getting to the bottom of who did what, when, and why, could take months or years.
The LME suspended nickel trading on March 8 after prices spiked by more than 50%.
The market has remained in near-paralysis, even on days when prices have been trading within the 15% daily limit.
In all, the 2021 drill program consisted of five holes and covered 716 metres.
Global demand for nickel used in batteries is expected to rise more than 20% this year.
The Manibridge project is thought to have numerous high-grade ore zones within a mineralized envelope.
The deal comes at a time of surging raw materials prices, exacerbated by the invasion of Ukraine by Russia.
Low stocks and falling liquidity may be a harbinger of what the LME market will look like in a couple of months time, writes Andy Home.
Since reopening on March 16, Friday was only the second day that the nickel market remained within the LME’s new daily price limits.
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