August 12, 2022

The rise of electric vehicles will support the need for metals

2 min read

Electric vehicles (EVs) are swiftly gaining popularity in automotive segments around the world, as numerous countries have pledged to bring in cleaner-fuelled cars in an effort to minimize reliance on fossil fuels. As a result of this shift toward electrification, mining and power firms are now rushing to extract the crucial metals utilized as EV inputs. As a result, according to GlobalData, a renowned data, and analytics business, influencer talks about metals around EVs increased by over 400 percent within the last 7 months (January-July) compared to the previous seven months.

“The leading keywords among EV talks of influencers comprised ‘Mining,’ ‘Clean Technology,’ ‘Metals,’ ‘Investment’ and ‘Climate Crisis,’ correlating with the increased demand of metals utilized in EVs,” says Influencer Analyst at the GlobalData, Smitarani Tripathy.

Following the industry’s top influencers, who include not only industry professionals but also reporters and business professionals, assists in following the industry’s popular and developing trends on a daily basis for better knowledgeable decision in the field of electric vehicles.”

Copper, cobalt, lithium, and nickel were the most mentioned metals among influencer conversations on the EV topic on the GlobalData Social Media Analytics Platform from January to July 2021, while neodymium (a rare earth metal), aluminum, and zinc emerged as new trends when compared to the previous seven months.

Several industry insiders anticipate that as consumer awareness of EVs grows, demand for essential metals such as copper, lithium, and nickel, which are used to make EV batteries, will grow even faster. This surge in metals demand is also driving leading mining and investment firms throughout the world to invest in the purchase of essential materials required in the manufacture of electric vehicle batteries.

To bridge the knowledge gap, Charles C. Nyabeze, who works at CEMI as the VP in charge of Business Development and Commercialization, stated, “Did you know that the greener battery-powered automobile will need up to four times as much copper as a fossil fuel fuelled car?” As more people purchase electric cars, the demand for copper will rise. More #mining, in other words.

LGES agrees on binding offtake with the Australian Mines for 100 percent of its projected #nickel & #cobalt MHP deliveries once funding is secured, according to Casper Rawles, who works at the Benchmark Mineral Intelligence as the Head of Price Assessments. More battery materials supply will be locked up before manufacturing begins, indicating a paucity of available tonnage from operational mines for long-term offtake.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.