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Mr Musk Proposes Long Term Contract with Nickel Miners

Metal News - Published on Mon, 03 Aug 2020

Image Source: Elon Musk Tesla EV Battery
Tesla founder Mr Elon Musk has urged miners to produce more nickel, a key ingredient in the batteries that power the company’s electric cars. Mr Musk in a post earnings call last week said “Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.”

Tesla currently sources nickel-cobalt-manganese batteries from South Korea’s LG Chem Ltd and nickel-cobalt-aluminium batteries from Japan’s Panasonic Corp. These companies indirectly buy nickel from mining companies in a long auto supply chain. Tesla doesn’t disclose which nickel miners are in its supply chain.

Given Tesla’s focus on sustainability, the company is likely to prefer to buy from miners of higher-grade nickel sulphide, which requires less power to process than laterite ore. There are three key suppliers Brazil’s Vale, which operates in Canada using some hydropower, Russia’s Norilsk Nickel and BHP Group’s operations in Western Australia.

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Posted By : Yogender Pancholi on Mon, 03 Aug 2020
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