Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
China’s industry ministry is proposing to step up domestic exploration of mineral resources under a plan to support the energy storage manufacturing industry.
China will step up efforts to support domestic exploration of lithium, cobalt, and nickel resources and bolster national resource security, under a draft plan released on Wednesday by the Ministry of Industry and Information Technology.
The plan is targeting an increase in the scale of the new energy storage manufacturing industry to match demand by 2027, calling for the creation of three to five 100 billion yuan ($13.96 billion) new energy storage manufacturing firms by then.
($1 = 7.1616 Chinese yuan renminbi)
(By Colleen Howe and Amy Lv; Editing by Jan Harvey)
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