EV demand driving long-term nickel, cobalt outlook, Sherritt says

April 30, 2021 / www.metalbulletin.com / Article Link

The demand for nickel and cobalt as battery materials for electric vehicles (EV) will keep their long-term bullish fundamentals intact, according to Canadian miner Sherritt International.

Over the past six months, numerous carmakers and governments have announced plans for significant investments to expand EV production capacity to meet growing demand, the company said.
Sherritt produces nickel plus cobalt by-product in Moa, Cuba, and Fort Saskatchewan, Canada.
"In 2020, more than 3.2 million EVs were sold despite the [Covid-19] pandemic. Industry observers estimate that the number of EVs sold in 2021 will grow by approximately 70%," Sherritt said in its first-quarter production results on Wednesday April 28.

"As a result of Class 1 nickel's unique properties, it remains the dominant metal in cathode chemistries being adopted...

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