![]() A material increase in the production of cobalt, a by-product of copper and nickel mining, is foreseen once demand for the metal more than doubles when EVs account for 15% of the world’s car sales. He says demand for cobalt really depends on EV penetration. Nonetheless, Milewski is adamant that the level of activity in the EV battery metals space is only the ‘tip of the iceberg’, with the broader uptake of EVs yet to be fully realised. ![]() “However, factors such as safety issues related to storage and the transport of spent batteries hinder the market growth,” adds Research and Markets. Research & Markets attributes the growth of the market not only to increased demand for plug-in vehicles but also to the growing need for automation and battery-operated materials- handling equipment, the increasing demand for smart devices and other industrial goods, and the high requirement of lithium-ion batteries for various industrial applications. The lithium-ion battery market is estimated to grow exponentially from $37.4-billion in 2018 to $92.2-billion by 2024. ![]() The NMC cell is growing in its range as the three components involved are easy to blend together and can be made useful for a range of applications, from the automotive industry to energy storage systems.” “The use of new electrolytes and additives support the charging of a cell up to 4.4 V/cell. Supporting his statement, a report on the lithium-ion battery market by Dublin-based market researcher Research & Markets foresees the market for NMC growing at a higher compound annual growth rate over 2018 to 2024.ĮVs require high capacity and high power that can only be provided by using the NMC battery type, says the researcher. ![]() Purkiss’s presentation also emphasises an increasing amount of nickel content in lithium nickel manganese cobalt oxide (NMC) batteries, adding that nickel input primarily sourced from sulphides is a declining supply source. Subsequently, says Purkiss, nickel prices will start rising, probably rapidly, and nickel pig iron production will restart, but only to fill Chinese stainless-steel demand, which will still be limited. The company predicts global nickel stocks will decline until a trigger point is reached, at which time restocking will take place. Munali will produce low-cost nickel concentrate at $9 200/t of nickel, while, in the long term, CNM expects lower-cost nickel sulphate production of $5 000/t. Purkiss says project economics were improved by changing the mining method, revising the metallurgical process and optimising the labour structure. Purkiss told delegates that financing of the restart was complete and, with the mine ramping up and the process plant being commissioned, first concentrates were expected in February and were on track to being transported to one of the nickel and copper smelters in the Southern Africa Development Community region in the first quarter of this year. Purkiss points to EV growth being an important factor in nickel’s demand-side development, noting a rapid increase in EV uptake, with financial services company Credit Suisse predicting EV growth to 3.1- million units by 2021 and 14.2-million units by 2025.ĬNM identified Munali, where operations stopped in November 2011, owing to low nickel prices and poor operational performance by the previous owners, as key to its consolidation of nickel prospects in Southern Africa. Having recently spoken at the Investing in African Mining Indaba conference, which was held at the Cape Town International Convention Centre, in South Africa’s Western Cape, from February 4 to 7, Milewski highlights that most conversations at the event were around these metals.Īlso presenting at this year’s Mining Indaba was nickel-focused development vehicle Consolidated Nickel Mines (CNM) CEO Simon Purkiss, who provided an update on the restarting of the company’s Munali nickel mine, in southern Zambia. “Actual EV car sales have far outpaced expectations and are going to have a tremendous impact on the demand for materials such as copper, cobalt, lithium and nickel,” says Milewski.
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