Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Battery material innovator X-Batt has partnered with Consol Innovations, an offshoot of Consol Energy (NASDAQ: CEIX), to fast-track their coal-based anode technology.
The two companies announced Tuesday their C-Batt Innovations joint venture, formed to push forward the development of battery materials sourced from coal.
Since collaborating with the United States’ Department of Energy in 2020, X-Batt has integrated coal into its unique, low-cost resin method, producing efficient, domestically sourced anode materials.
The partners did not reveal if the formation of the joint venture involved a specific investment by Consol or its worth.
“Using plentiful local coal instead of graphite provides an eco-friendly alternative to meet the growing demand for lithium-ion batteries,” X-Batt CEO Bill Easter said in a news release.
Dan Connell of Consol Innovations added the company would continue to invest in the coal-to-products sector. “This collaboration allows us to combine domestic raw materials with state-of-the-art technology, revealing eco-friendly applications for coal,” Connell said.
The partnership highlights the merger of innovation and sustainability, marking a shift in the energy storage and battery tech landscape.
Established in 2019, X-Batt develops high-capacity, lower-cost, and scalable lithium-ion battery components that feed into the energy transition.
In 2020, the National Energy Technology Laboratory awarded X-Batt a three-year, $1 million contract to research the use of coal as an anode material in lithium-ion batteries. Early tests showed that coal, when combined with X-Batt’s resin, offers better anode capacity compared with graphite.
In June, X-Batt announced a collaboration with Semplastics, another privately held innovator, to study the technology’s use in 18650 batteries, often used in commercial applications. The partners’ Battery Innovation Centre successfully tested coal-based technology in 18650 cells, proving its commercial viability with an 80% retention after 1,000 full charge-discharge cycles.
While the news might offer hope to buckling coal operations under anti-fossil fuel policy frameworks, The Global Energy Monitor reported Monday that nearly 1 million coal jobs could vanish globally by 2050, with significant cuts anticipated in China and India, in an analysis of active and proposed coal mines.
This would mean about 100 layoffs daily, reducing the industry’s workforce of 2.7 million by 37% by 2050.
The report’s researchers emphasized that many mines set to close soon don’t have plans for future operations or transitioning to a post-coal economy, underscoring the importance of government involvement and technological innovation in the transition.
