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The Battery Metal Supply Squeeze Is Far From Over

While much of the world still depends on fossil fuels, demand for battery metals is surging.

Battery metal demand on the rise

South African platinum and palladium producer Sibanye-Stillwater said increasing demand for battery metals is already impacting supply.

“While not yet having material impact on internal combustion engine vehicle sales, increasing demand for battery metals to meet requirements for electric vehicle production is already starting to have substantial implications for battery metal supply,” the South African firm said.

In short, the world will need to expand supply in order to meet that rising demand.

Demand for a variety of critical metals needed for the transition to renewables will be significant. Demand for everything from copper to cobalt is set to skyrocket, the IEA explained its in report titled “The Role of Critical Minerals in Clean Energy Transitions.”

Today’s supply and investment plans for many critical minerals “fall well short” of what will be needed, the IEA said.

With demand set to increase many times over in the years ahead, there will need to be additional investment.

“The resultant increased demand for battery metals to support a prolonged expansion of the global battery electric vehicle (BEV) fleet over the next two to three decades, is going to require commensurate increase in the supply of battery metals,” Sibanye-Stillwater added. “Primary expansion of the scale needed to meet BEV growth projected by some market commentators, will be challenging.”

Steps toward the future

South Africa accounts for 70% of global production of platinum, used in catalytic converters to curb harmful emissions from automotive exhaust.

The South African firm touted its various efforts in the battery metals space. The firm acquired an initial stake in the Keliber lithium project in Finland. Furthermore, it made a proposal for the acquisition of the Sandouville nickel refinery in France.

Platinum, palladium output

Sibanye-Stillwater reported platinum and palladium production from its U.S. operations of 298,301 ounces for the six-month period ending June 30, 2021.

The total marked an increase from 297,740 ounces in H1 2020. However, output declined from the 305,327 ounces in H2 2020.

Meanwhile, 4E PGM (i.e., platinum, palladium, rhodium and gold) output in South Africa totaled 894,165 ounces in H1 2021. In H1 2020, 4E PGM output from the firm’s South Africa operations totaled 630,912 ounces.

By AG Metal Miner 

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