Cobalt supply constraints
Commodity pricing environment
Surging end-product demand
It is impossible to meet the demands of a developing world without nickel and cobalt. Batteries, which rely on nickel and cobalt, are becoming ever increasingly important for storing renewable energy and supporting the global goal of sustainability.
While the first nickel battery has been around for more than a century, the last three decades have seen extraordinary changes in how batteries are made and used. New applications – from storing solar energy to powering electric vehicles – have emerged.
These new applications, in turn, are pushing the limits of battery capacity and power, resulting in greater demands for higher purity metals. Enter Class I nickel.
Unlike nickel pig iron which is high in iron content, Class I nickel is purer and amenable to battery production – particularly for the fast-growing electric vehicle market.
It is expected that carmakers will invest $100 billion in electric vehicles by 2020. Each of these cars will be powered by batteries made from cobalt and nickel.
Sherritt produces nickel and cobalt in briquette form, the most suitable for battery production.