Cobalt supply constraints
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 increasingly important for storing renewable energy and supporting the global goals of sustainability and action on climate change.
While nickel batteries have 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 applications are pushing the limits of battery capacity and power, resulting in greater demands for higher purity metals. This is where Class 1 nickel comes in.
Unlike nickel pig iron and ferronickel, which are high-iron alloys, Class 1 nickel is highly purified and amenable to battery production – particularly for the fast-growing electric vehicle market. Sherritt is a producer of Class 1 nickel in powder and sintered briquette forms that are easily dissolved, and more suitable than cathode nickel for making battery chemicals. Sherritt also produces high-purity and ethically produced cobalt in briquette form, the most suitable for battery production.
The Moa Joint Venture favorably positions Sherritt to capitalize on the growing demand for electric vehicle batteries as a supplier of high-quality, ethically sourced Class 1 nickel and high-purity cobalt.