Global nickel production is about 5 billion pounds a year.

Global nickel production is about 5 billion pounds per year, with grade 1 high purity nickel from sulphide deposits and grade 2 nickel from laterite deposits evenly distributed.

McKinsey researcher Ken Hoffman said in a report that by 2030, the penetration rate of electric vehicles will reach 22% to 30%, and the annual production of 30 million electric vehicles will require about 2 billion pounds of grade 1 nickel.

But (Silver Elephant), a Toronto-listed silver elephant, says nickel production is declining because sulphide minerals are rare. "the future supply of Tier 1 nickel will not be able to meet the explosive growth of electric vehicles," said (Silver Elephant), a Toronto-listed silver elephant.