A number of mining giants are optimistic about the prospect of nickel for electric cars BHP Billiton retains its nickel business for sale

SMM5, 16 March: recently, according to foreign media sources, BHP Billiton, a global mining company, will continue to retain its nickel business in Australia for sale, while Rio Tinto is also studying copper and lithium projects. Because the company will bet on the prospect of demand for (EV) batteries for electric vehicles. Some mining companies say they are ready to provide the metals needed for electric vehicle technology, although they acknowledge that some countries that find the best supply of these metals have political risks and environmental problems.

Western Australia is rich in nickel sulfide and can be chemically processed into sulfate, prompting BHP Billiton to retain its original Western Australian nickel business because it uses more nickel and reduces costs by reducing the use of expensive cobalt. This is the main direction of electric vehicle batteries at present.

Andrew Mackenzie, chief executive of BHP Billiton, told the BAML Mining Conference in Barcelona that dramatic changes in climate and technology presented challenges and opportunities due to expected growth in the battery market and the relative scarcity of high-quality nickel sulfide supplies. Nickel West has the potential for high returns.

In terms of more electrification, other minerals needed for a low-carbon economy include copper and lithium. Rio Tinto has launched a major copper mine expansion project and discovered deposits in Australia, with preliminary results said to be promising. It also has a huge jadarite deposit, a lithium-bearing mineral unique to Serbia.

On Tuesday, CEO Jean-Sebastien Jacques conducted a study of Serbia's deposits at a conference in Barcelona, which the company is expected to complete in about 18 months. He said it would take 26 steps to extract lithium and that increased pricing was an issue, but Rio was becoming more adaptable to the market.

Ivan Glasenberg, Glencore's chief executive, said battery makers, which are leading the battery revolution, are trying to limit the use of expensive minerals, such as cobalt, and they need a lot of new sources of battery minerals and should be cheap. Because it accounts for a major part of the world's cobalt supply through its operations in the Democratic Republic of the Congo. But Glasenberg also raises a number of issues, including higher risks, high costs of capital and a lack of new, accessible supplies.

Moody's upgraded Glencore on Monday with its continued financial performance, but said its rating was constrained by environmental risks and instability, mainly in the Congo.

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