BHP to keep Nickel West, Rio looks to Jadar lithium for battery boom - lithium ion batteries for sale
LONDON (Reuters )-
Global mining firm BHP Billiton will retain its previously sold Australian nickel business, and while Rio Tinto is developing copper and lithium projects, the mining industry is betting on demand for electric vehicle (EV) batteries.
The biggest mining companies say they have the ability to provide the required metal for the transformation of electric vehicle technology, although they acknowledge political risks and environmental problems in some of the best-supplied countries.
The demand for nickel is to allow the car to drive further after one charge.
The use of more nickel can also reduce costs by reducing the use of expensive cobalt, the backbone of the current electric vehicle battery.
Western Australia is rich in nickel compounds that can be chemically processed into sulfuric acid, prompting BHP to retain its Nickel West business after several attempts to sell the business.
At the BAML mining conference in Barcelona, CEO Andrew McKenzie said: "The great changes in climate change and technology bring challenges and opportunities . " The meeting was broadcast over the Internet.
He said that due to the expected growth in the battery market and the relative lack of high-quality hydrogen sulfide supply, Nickel West offers the potential for high returns.
Other minerals needed in a more charged, lower Environment
The carbon economy includes copper and lithium.
Rio Tinto has a major copper expansion in Mongolia and has discovered copper deposits in Australia.
It also has a huge lithium deposit, jadarite-
It contains minerals unique to Serbia.
On Tuesday, CEO Jean-
Sebastian Jacques said at the Barcelona meeting that the study on Serbian deposits should be completed in about 18 months, after which the company will update the market.
"There are 26 steps to be able to extract lithium," he said, adding that pricing is an issue, but Rio is getting more and more satisfied with the market.
Glencore CEO Ivan Glasenberg said a large number of new sources of battery minerals are needed, as well as the industry term "savings" for battery manufacturers to restrict the use of expensive minerals, such as cobalt.
Glencore has always said that it is in the lead in the battery revolution because it has gained a large part of the world's cobalt supply through its operations in Congo (Kim.
But Mr Glasenberg has also pointed to obstacles, including higher risks, high capital costs and the lack of new, accessible supplies.
Moody's upgraded Glencore's rating on Monday for its continued financial performance, but said it was affected by environmental risks and volatile countries, mainly Congo.