Its all happening in Indonesia.
They will be producing battery grade nickel and cobalt from laterite ore but at what cost, that’s the issue? Without the detail its difficult to know what this means.
Interesting comment by Moody’s at the bottom of this article.
"Moody’s also warns about the supply of other commodities supply could affect lithium prices: “Nickel and copper availability is likely to constrain the ability to produce electric batteries. This will dampen lithium demand growth until ample nickel and copper is available — which may take a while,” the report concludes."
One of the drivers in the emerging EV market will be the car companies themselves. The need to secure market share is the only incentive the big players need to push things forward. Add to that emerging legislation and the fact that a substantial number of consumers wanting to do their bit for the environment and the market will expand very quickly.
Interesting times ahead.