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...It wants to mine 10 per cent of the EU’s critical mineral consumption, process 40 per cent of it and recycle 15 per cent of it by 2030....
...That would follow moves by other platinum producers in South Africa to reduce headcounts, which the country’s Minerals Council estimates could result in somewhere between 4,000 to 7,000 job losses across...
...Chinese producers are often integrated with industrial activities or receive state-backed financing, enabling them to power ahead even in commodity downturns....
...Glencore-backed Horizonte Minerals has failed to secure financing to complete its nickel mine in Brazil following soaring costs and rising investor concern that Indonesia is flooding the market for the electric...
...Australian government has added nickel to a list of commodities eligible for support from a A$6bn (US$3.9bn) stimulus fund, extending a lifeline to the ailing industry as falling prices hit producers of the mineral...
...With the world’s largest reserves of the mineral, it commands a market share of more than 50 per cent....
...Under Crown Prince Mohammed bin Salman’s “Vision 2030” to modernise Saudi Arabia’s economy, mining and minerals processing are earmarked to become the third industrial “pillar” next to oil and gas and petrochemicals...
...Glencore-backed nickel miner Horizonte Minerals has warned it needs another financial injection after reporting a more than doubling in the cost to build its flagship project in Brazil....
...Looking forward to 2024, analysts say that industrial metals are likely to remain in a tug of war between China’s economy and the rest of the world....
...EVs are still more expensive to make than petrol cars, partly because of the high cost of minerals required for their batteries....
...These minerals power modern life and if China pulls the plug, we will all pay the price.” The UK published its first critical minerals strategy in July 2022, followed by a “refresh” earlier this year....
...price of lithium has tumbled more than 80 per cent in the past year to $13,200 per tonne, its lowest level since 2020, after excessive levels of supply hit the market, according to data group Benchmark Mineral...
...BHP said it was reassessing a nickel project it acquired last year with Oz Minerals. Yet again, a cycle of heavy miner investment and bullish promises could be followed by insufficient reward....
...SQM has invested in Azure Minerals, and is part of a joint venture with Wesfarmers in the Mount Holland mine and Kwinana processing plant in Western Australia....
...Northvolt has made a breakthrough in a new battery technology used for energy storage that the Swedish industrial start-up claims could minimise dependence on China for the green transition....
...Indonesia’s ministry for energy and mineral resources did not respond to a request for comment....
...Chris Ellison, who controls A$12bn ($8bn) miner Mineral Resources and is a shareholder in Azure, said this month that SQM’s bid looked “dead in the water”....
...of the Manara Minerals joint venture last year....
...Recycled battery materials have a carbon footprint that is 70 per cent lower than mined minerals, Northvolt claims....
...The discovery comes as the US government embarks on a charm offensive and infrastructure push in Africa in an effort to compete with China’s control over minerals that are critical for defence, renewable...
...Rinehart also threw a spanner in the works for another Australian deal for the battery metal after building a strategic stake in Azure Minerals that Chilean lithium powerhouse SQM agreed to buy....
...will reduce their dependence on key minerals....
...It also has a coherent industrial strategy to support its goals. The US, meanwhile, is playing catch-up....
...The US Inflation Reduction Act (IRA) in 2022 brought in an electric vehicle tax credit of up to $7,500 — but this is subject to increasing strictures on where battery components and critical minerals are...
...Both copper and cobalt are considered key for the transition to clean power because they are essential materials for renewable power, electric cars and batteries, as well other industrial uses....
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