Nickel and zinc are now considered as critical metals by the US Geological Society (USGS) since more and more countries depend on the exports of only a few capable host countries such as Indonesia, South Africa, and Russia for Nickel, China, Peru, and United States for Zinc, and Canada and Australia for both metals. It is also undeniable that these metals are fast gaining traction as the world propels to transportation electrification and galvanization, respectively. The growing prospect of nickel is reflected in its pricing, as its price on the London Metals Exchange doubled from around US$10,000 a tonne to US$21,670 in the last five years. Zinc, on the other hand, rebounded to $2,965 per tonne in May 2021 from a two-year decline, representing a 50% increase year-over-year, and is expected to have slow steady growth in the next years, according to the World Bank.
In addition to their high abundance in nature despite limited processing initiatives of the rest of the world, nickel and zinc are known to have excellent recyclability. Thus, these metals play a huge part in the circular economy, since the ores of these metals can be repurposed repeatedly without losing the quality. This means that nickel and zinc recycling industries can complement their respective primary productions which is greatly beneficial in delivering to the fast gaining traction of these now-considered critical metals. This advantage in metal production is fully realized by the StrategX Elements Corporation, as it takes its first step in exploring Canadian deposits that are rich in nickel and zinc, as well as other transition metals for greener technological advancements.
Reference:
“Nickel and Zinc have Joined the Critical Minerals List – Here’s why they’re important”. 2022. Proactiveinvestors UK. https://bit.ly/3PUMjzc
