Abitibi Metals boosts resource by 62% at B26 polymetallic deposit in Quebec
Indicated resources increased to 11.3 million tonnes from 6.9 Mt.
Despite concerns about a global slowdown in electric vehicle (EV) sales, battery metals consultancy Adamas Intelligence newsletter editor Frik Els says key indicators for battery metals demand remain strong.
China continues to dominate the EV market, with Els noting that every second EV sold globally in the past year was in the country.
“They produce more than they sell inside the country. So, if you want to look at trends, you must start in China,” Els, head of Adamas Inside, told The Northern Miner’s western editor, Henry Lazenby, last month during the Energy Transition Metals Summit in Washington, D.C.
Els, who’s also editor-at-large with The Northern Miner’s sister publication MINING.COM, pointed out that battery chemistry is quickly evolving. Following a shift toward lithium iron phosphate (LFP) batteries that began in China in 2020, over half of the EVs sold there are LFP. The chemistry, which is cheaper than others, is also lower density. Still, U.S. market leader Tesla has adopted LFP batteries for their base models.
In the video above, Els explains why prospects for all battery metals are still strong, even as preferences for battery types continue to shift. The summit ran in coordination with Precious Metals Summit Conferences.
