Berkwood Resources Ltd. – Battery minerals shortage coming!
Berkwood Resources Ltd. (www.berkwoodresources.com) may benefit from the battery minerals shortage that is coming.
Tesla warns of coming battery minerals shortage.
While demand for electric vehicles (EVs) continues to soar, investment in companies mining for the so-called battery metals is lagging far behind, which may trigger an upcoming global shortage of those minerals, a Tesla executive has warned.
The EVs manufacturer pioneer, Reuters reports, has also said it believed that prices for key elements in the making of rechargeable batteries, including cobalt, lithium, nickel and copper, could increase exponentially as a consequence of limited supply.
The comments by Sarah Maryssael, Tesla’s global supply manager of battery metals, echo those of other car makers, such as Ford Motor, Toyota and BMW, who have said the auto industry would need to invest directly in battery metals mines in order to secure supply over the next three to five years.
Ford, which plans to launch new EVs as soon as next year, has been reducing the proportion of cobalt it uses to lower its dependency on it. And while the company doesn’t see the need to participate in mining, or have direct cobalt offtake agreements, it has admitted it may re-evaluate that decision in the future.
Early last year, Toyota Motor Corp, Asia’s No.1 car manufacturer, said it had found a way to make EVs more affordable and less vulnerable to shortages in supply of the key elements needed.
The announcement followed Samsung SDI’s. South Korea’s leading battery maker plans to recycle cobalt from used mobile phones and develop lithium-ion batteries with minimum content of the metal, or no cobalt at all, as a way to offset soaring commodity prices.
BMW is another of the top car makers that expects demand for battery metals to go ballistic. It predicts the need for those materials will grow 10-fold by 2025. Volkswagen is also on a $50B offensive.
Most car makers have chosen nickel-manganese-cobalt batteries (NMC). Tesla’s favoured battery technology – nickel-cobalt-aluminum (or NCA) – already uses less than 3% cobalt.
According to Germany’s Karlsruhe Institute of Technology (KIT), supplies of battery metals are likely to be limited as soon as 2050.
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BERKWOOD RESOURCES LTD
Montreal
Suite 2200 – 1250 Rene Levesque Blvd.
Montreal, QC,
H3B 4W8
Canada
Tel. 438-469-0705
Vancouver
Suite 2410 – 610 Granville Street,
Vancouver, BC,
V6C-3T3
Canada
Tel. 604-343-7740
email: info@berkwoodresources.com
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