The global nickel market had a surplus of 20 500 metric tons in April, compared with a deficit of 2 600 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Wednesday. That compares with a surplus of 5 900 tons in March 2023, Lisbon-based INSG added.
Automakers, including Tesla and Mercedes, are rushing to lock in graphite supply from outside dominant producer China, as demand for electric vehicle (EV) batteries outpaces other uses for the mineral for the first time due to soaring EV sales. Auto firms have been slow to plan for graphite shortages, focusing mainly on better-known battery materials lithium and cobalt, even though graphite is the largest battery component by weight.
Hopes are rising for the commercialisation of batteries that are boosted by the inclusion of platinum and palladium following the engagement of an innovation centre to drive the next generation of battery chemistries to market. Collaboration between Florida International University-linked Lion Battery Technologies of the US and the Battery Innovation Center of Newberry, Indiana, will include creating prototypes for commercialisation consideration next year.
Chilean miner Antofagasta applied for an environmental permit to extend operations at its Zaldivar copper mine through 2051, the company announced on Tuesday. Antofagasta said its extension plan includes a projected investment of $1.2-billion for the base metals project.
Mining major BHP is working towards the full electrification of its Escondida and Spence copper operations, in Chile. BHP’s Minerals America VP for planning & technical, Alejandro Tapia said that the company’s aim in Chile was to displace its Scope 1 emissions generated from diesel consumption.
Diversified miner BHP on Wednesday told shareholders that the company would likely need to make use of high-integrity carbon credits to offset greenhouse gas (GHG) emissions which could not be avoided as part of its net zero goal by 2050. BHP’s head of carbon management, Graham Winkelman said in a presentation that the miner was on track to deliver its 2030 target of at least a 30% reduction, and on its long-term goal of net zero operational GHG emissions by 2050.
