• Wed. Nov 29th, 2023

Evolving Battery Tech: How the Mining Industry is Adapting


Nov 22, 2023

The battery market has been growing rapidly, driven by the increasing demand for clean energy sources. However, this growth has also led to concerns about market volatility due to oversupply. One of the key drivers of this growth is the supply of lithium, which has seen a significant increase in recent years.

Currently, there are 60 operating mines producing lithium, up from just 22 six years ago. By the end of the decade, it is expected that there will be around 200 operating mines. This rapid growth in supply has raised questions about how the market will respond to such an influx of new product. Some experts predict that the market may experience significant fluctuations due to oversupply.

Despite these concerns, Mark Selby, CEO of Canada Nickel, believes that there is room for multiple battery chemistries in the market. He envisions a differentiated market with options ranging from entry-level to premium based on performance. While advancements in technology have made it possible to use other materials as substitutes for nickel in batteries, Selby believes that nickel remains the preferred choice due to its high energy density and versatility.

Overall, while there are concerns about market volatility and oversupply in the battery market, experts believe that multiple battery chemistries can coexist and offer consumers a range of options based on performance and energy density. As the supply of lithium continues to grow, it will be interesting to see how this impact on the industry plays out over time.

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