Pricey critical minerals, supply chain disruption obstacles to rising EV demand – report

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Soaring prices for some critical minerals essential for battery manufacturing, as well as supply chain disruptions caused by Russia’s attack on Ukraine and by continued Covid-19 lockdowns in some parts of China, are the greatest obstacles to continued strong global electric vehicle sales, the International Energy Agency (IEA) said. Ensuring future growth will demand greater […]

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Australia says fresh investments to unlock potential of its critical minerals sector

The Australian government has announced a package of measures, including a $200 million Accelerator grants program, $50 million to support research and development, and an updated industry strategy as part of its 2022-23 budget to help unlock the minerals industry’s significant potential. Prime Minister Scott Morrison said Australia’s resources companies were leading the world in developing new critical […]

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As Ukraine crisis escalates, watch out for these five commodities

U.S. lawmakers have said they are devising the “mother of all sanctions” against Russia as a method of defending Ukraine that would be “crippling to [the Russian] economy.” The 5 key commodities likely to be hardest hit are: #1. Aluminum Russia accounts for approximately 6% of global aluminum supply. While China is the world’s biggest aluminum producer, […]

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Cobalt industry to get a big boost from the shift to a green economy: Fitch Solutions

The global cobalt supply chain is set to remain highly geographically concentrated in the coming years — in the DRC (Democratic Republic of Congo) for mine production and in China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. Yet the global cobalt industry […]

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Vedanta acquires Nicomet, a leading nickel-cobalt producer

Billionaire Anil Agarwal-owned Vedanta group has acquired Goa-based Nicomet, a leading nickel and cobalt producer. The acquisition is in line with Vedanta’s ESG mission and is a big step towards supporting India’s carbon neutrality goals. With this acquisition, Vedanta has become the country’s sole producer of nickel, the company said in a statement. “The move is […]

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Current rally in metals prices may delay switching to green energy: IEA

Soaring metals prices may be good news for miners, but they put at risk the ongoing transition to clean energy as batteries, solar panels and wind turbines need considerable amounts of copper, nickel, cobalt, lithium and other minerals to be manufactured, a new report by IEA warns. According to The International Energy Agency (IEA), reaching the goals of the Paris […]

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