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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":707,"relatedVideos":708},112471569160830,"2c5770b1-6555-4f19-8967-6e08c71a7aa3","Mining investment needs to catch up with gigafactory arms race, Benchmark delegates warn","mining-investment-needs-to-catch-up-with-gigafactory-arms-race-benchmark-delegates-warn","article/mining-investment-needs-to-catch-up-with-gigafactory-arms-race-benchmark-delegates-warn",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":685,"featured":51,"reporter":686,"_editable":690,"component":691,"seo_title":543,"categories":692,"visibility":699,"author_company":49,"featured_image":700,"seo_description":685,"author_full_name":49,"author_job_title":49,"formattedDate":705,"formattedArticleDate":706},"06891b22-7d2b-4aa8-b223-3528fa0d1427","2023-03-29 00:00",[550,553],{"slug":551,"name":552},"battery-gigafactories-europe-2023","Battery Gigafactories Europe 2023",{"slug":554,"name":555},"policy","Policy",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,586,601,613,618,623,630,635,640,645,650,655,662,667,672],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Investment in the mining industry needs to catch up to that of the battery industry to avoid a shortfall in supply, according to delegates at Benchmark’s European Gigafactories conference in Budapest. ","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"Efforts by the European Union to reduce reliance on China and match generous climate legislation passed by the US could be hindered by permitting as well as a lack of investment, they warned. ",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"“It seems to be easier to raise money if you are a gigafactory than if you are a mine,” Simon Moores, chief executive of Benchmark, said. “At the moment gigafactory investment is about three to four times the pace of the upstream.” ",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589,591,599],{"text":590,"type":575},"This month the European Union responded to the passage of the US Inflation Reduction Act with ",{"text":592,"type":575,"marks":593},"its own suite of proposals",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/how-achievable-are-the-eu-critical-raw-materials-targets","url",{"text":600,"type":575}," in the form of the Green Deal Industrial Plan, which includes proposed legislation covering critical material sourcing, clean technology production, and electricity market reforms.",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604,606,611],{"text":605,"type":575},"The proposed ",{"text":607,"type":575,"marks":608},"Critical Raw Materials Act",[609],{"type":595,"attrs":610},{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},{"text":612,"type":575}," says Europe should meet 10% of its demand for critical minerals by 2030 from mining within the bloc, and 40% of the demand for processed minerals. ",{"type":570,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":575},"But delegates warned that more needed to be done to invest in new mining and processing technologies, and the EU’s Critical Raw Materials Act lacked ambition. ",{"type":570,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":575},"“Without critical raw materials, green technology like wind, solar, geothermal energy, and solid state storage can’t be built,” Colin Mackey, the managing director for Jadar and European operations at Rio Tinto, said. “The crunch is coming.”",{"type":570,"attrs":624,"content":625},{"textAlign":49},[626,628],{"text":627,"type":575},"Ilka von Dalwigk, policy manager at InnoEnergy,",{"text":629,"type":575},"said mining in Europe was held back by “permitting and a lack of finance.”",{"type":570,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":575},"“It is a vicious circle really holding up this upstream industry,” she said. ",{"type":570,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":575},"“A lot of the legislative proposals we have seen recently are very good first steps . But at the same time you could say what Europe wants is competitiveness but what they got is more bureaucracy.”",{"type":570,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":575},"Anton du Plesssis, chief executive of Zinnwald Lithium, said the Critical Raw Materials Act “lacks ambition.”",{"type":570,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":575},"“It can always be more ambitious,” Stefan Bernstein, chief executive of GreenRoc Mining, added. “I think we can achieve more than the 10% supply that is set out and the 40% processing target. I mean, nothing should hold us back to do more than that.”",{"type":570,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":575},"Growth in lithium supply cannot rely on traditional means of financing, Sarah Maryssael, chief strategy officer from Livent, said. Instead it needs “investment from all actors across the supply chain.”",{"type":656,"attrs":657,"content":659},"heading",{"level":658,"textAlign":49},4,[660],{"text":661,"type":575},"Race to close the raw material disconnect",{"type":570,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":575},"“Batteries are moving from startup to scale up,” Moores explained. “But the mines aren’t being built quick enough to fuel this growth.”",{"type":570,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":575},"Up to 60 million tonnes of raw material a year has to be put through the battery industry, according to Moores. ",{"type":570,"attrs":673,"content":674},{"textAlign":49},[675,677,683],{"text":676,"type":575},"The vice president of the European Commission, ",{"text":678,"type":575,"marks":679},"Maroš Šefčovič",[680],{"type":595,"attrs":681},{"href":682,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/europe-needs-to-step-up-its-game-to-compete-in-global-battery-industry-sefcovic-says",{"text":684,"type":575},", told Gigafactories Europe that the region is responsible for just 1% of global critical battery material production.","Investment in the mining industry needs to catch up to that of the battery industry to avoid a shortfall in supply, according to delegates at Benchmark’s European Gigafactories conference in Budapest. Efforts by the European Union to reduce reliance on China and match generous climate legislation passed by the US could be hindered by permitting […]",[687],{"slug":558,"name":559,"content":688},{"job_title":561,"image":689,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"06891b22-7d2b-4aa8-b223-3528fa0d1427\", \"id\": \"\"}-->","article",[693,696],{"slug":694,"name":695},"batteries","Batteries",{"slug":697,"name":698},"critical-minerals","Critical Minerals","private",{"id":49,"alt":701,"name":701,"focus":701,"title":701,"source":701,"filename":702,"copyright":701,"fieldtype":703,"meta_data":704,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/a2a3edb1be/bm-img-6167-1.jpg","asset",{"alt":701,"title":701,"source":701,"copyright":701},"Mar 29, 2023","29th March 2023",[],[],1781195704250]