SMM7: (Canada Nickel Co.), a small Canadian nickel company, is accepting Musk's offer to mine nickel efficiently and environmentally. Following Mr Musk's call for miners to increase nickel mining, the nickel company said it was planning to build a plant to process nickel (carbon free nickel) in an environmentally friendly way.
"if you mine nickel efficiently in an environmentally friendly way, Tesla will provide you with a huge contract for a long time," Musk, chief executive of electric car manufacturers, said on a conference call in the second quarter. " At the same time, he said Tesla's next automatic assembly plant will be set up in Austin, Texas.
Musk calls on miners to increase nickel mining: a huge contract will be offered
Nickel, a key ingredient in the positive electrodes of electric vehicles, could face shortages as early as 2023. As Mr Musk's speech on the earnings call highlighted the risk that it might be difficult for the mine to increase production to meet the needs of electric car manufacturers, overnight market nickel prices rose sharply on the evening of the 23rd, with LME nickel up more than 4 per cent and Shanghai nickel up nearly 3 per cent.
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![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
