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Developing the next major nickel project in Brazil

Electric Vehicles

Nickel is commonly named as one of a handful of commodities set to benefit from an expected surge in sales of electric vehicles over the next two decades. 2017 was the first year in which more than one million EVs were sold, compared with over 88 million conventional cars and light commercial vehicles sold globally in 2016.

Nickel is a major component in the batteries of this new class of vehicle, currently a focus for the world’s major carmakers*.

According to the Nickel Institute**, demand for energy-dense nickel-containing batteries will increase for applications such as electric vehicles and renewable energy storage. Currently 39% of Li-ion batteries contain nickel. This is expected to rise to around 58% by 2025.

Wood Mackenzie recently increased its long-term price for nickel to $28,700/t by 2022 in order to incentivise new production to come on stream and meet the shortfall.

The nickel market starts to need additional nickel from unidentified resources in 2023, we envisage prices reaching an annual average peak of US$28,700/t by 2022***.

 

Today’s battery options

  • Lithium compounds are combined with other materials in order to create Li-ion batteries.
  • Two of the commonly used Li-ion battery chemistries contain nickel — NCA (Lithium Nickel Cobalt Aluminium Oxide) & NMC (Lithium Nickel Cobalt Manganese Oxide).
  • Demand for energy-dense nickel-containing batteries will increase for applications such as electric vehicles and renewable energy storage.
  • In 2016 39% of Li-ion batteries contained nickel. This is expected to rise to around 58% by 2025.

* http://www.automotiveit.com/news/for-toyota-a-new-goal-5-5-million-evs-a-year-by-2030/
** https://www.nickelinstitute.org/
*** http://www.mining.com/electric-vehicle-demand-will-double-nickel-price-soon-2022/
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