Electric Vehicles

The ongoing slump in lithium prices is compelling miners to reevaluate their production strategies. While current conditions are tough, the long-term outlook remains positive.

A new report indicates the need for 55 new copper mines by 2050 to meet the demand for vehicle electrification and renewable energy, emphasizing a significant expansion in copper mining.

Demand for copper and cobalt is surging due to the global economy and the rise of electric vehicles and renewable energy technologies.

German chemical giant BASF abandons plans to invest in lithium mining in Chile, citing a slowdown in electric vehicle sales and a decline in battery metal prices. BASF is now focusing on battery recycling in Europe to secure raw materials.

Serbia is poised to give the green light to Europe’s largest lithium mine project after a two-year hiatus. The Jadar project, led by Rio Tinto, could be operational by 2028, meeting a significant portion of Europe’s lithium demand for electric vehicles.

Copper prices are expected to surge in the coming years due to rising demand from the green energy sector, particularly electric vehicles and renewable energy infrastructure. The challenge lies in ensuring sufficient supply to meet this demand while adhering to environmental and social responsibility standards.

Copper prices are on a rollercoaster ride after reaching an all-time high. While some believe a shortage is coming, concerns about weak demand, especially in China, are causing uncertainty. The long-term outlook for copper seems positive due to the green energy transition, but short-term fluctuations are likely.

Tesla supplier Piedmont Lithium has secured a critical permit for a lithium mine in North Carolina, but the company still faces challenges including zoning approval and project financing.

Saudi Arabia, the world’s top oil exporter, is shifting gears and looking to secure lithium, a key battery metal, to fuel its electric vehicle ambitions. The kingdom is exploring domestic production and international investments to meet its EV goals.

First Quantum is looking to sell a stake in its Zambian copper mines, attracting interest from major players like Rio Tinto and Saudi Arabia. The bidding war highlights the growing importance of copper for clean energy and the limited supply of new mines.