Mine developers scrambling to fund projects to meet forecast demand for battery metals see the threat of looming supply crunches as a trigger for electric-vehicle makers to step in with investments.
An already tough environment to raise project finance for the mines is being made worse by the impact of the coronavirus pandemic and plunging global auto sales. It’s a scenario that’s threatening to slow a pipeline of operations planned to supply lithium, nickel and cobalt materials.
With “mind-blowing” projections from the auto industry on its future raw material needs, the best solution could be for vehicle producers to invest directly in mining operations, according to Sam Riggall, CEO of developer Clean TeQ Holdings.