The increasing worldwide acceptance of electric vehicles, or EVs, to support the switch towards transport electrification and lessening the dependency on oil and petroleum means an upsurge in demand for the extraction and development of energy-efficient and cost-effective battery materials. Nickel is one of these important materials in EV batteries such as rechargeable nickel-cadmium batteries and nickel-metal hydride batteries. This currently comprises 33% by mass of the battery unit. In the world’s annual nickel supply, only 3% is consumed for the manufacturing of electric vehicle batteries. However, it is expected that this percentage of nickel use may rise in the coming years since increasing the amount of nickel to 80% by mass in the battery will make it more energy-efficient.
With this rising new opportunity of nickel, the need for high-grade nickel deposits needed for EV batteries that are generally mined in places like Australia and the Arctic is expected to cause a ripple in the supply chain. At present, exploration of new mining locations for the extraction of high-grade nickel deposits in places such as Greenland, Russia, and Canada will be expected and could supply the nickel demand for these electric vehicle batteries.
Intending to contribute to the green energy sector and emerging low carbon economy, StrategX Elements Corporation takes part in the global supply chain by providing ethical discovery and sourcing of critical mineral resource deposits such as nickel. The economic situation of nickel and transportation electrification is an opportunity for StrategX Elements Corporation to ultimately contribute to a larger effort of greening the globe through exploration discoveries.
Reference:
“Blog – Arctic Nickel, Not Oil, Could Soon Power The World’s Cars”. 2022. Eye On The Arctic. https://bit.ly/3rzItCP.
