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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":901,"relatedVideos":902},112468426543685,"4d395299-a1f6-4f0e-b3b9-42f686d55663","OPINION: Election plot twist: Trump and Musk to oversee great US battery boom in red states ","opinion-election-plot-twist-trump-and-musk-to-oversee-great-us-battery-boom-in-red-states","article/opinion-election-plot-twist-trump-and-musk-to-oversee-great-us-battery-boom-in-red-states",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":877,"featured":51,"reporter":878,"component":882,"seo_title":543,"categories":883,"visibility":890,"author_company":891,"featured_image":892,"seo_description":877,"author_full_name":897,"author_job_title":898,"formattedDate":899,"formattedArticleDate":900},"b9875afe-e92a-4a53-bada-6f94e5cec629","2024-11-26 00:00",[550],{"slug":551,"name":552},"usa","USA",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,584,595,600,605,610,623,628,633,638,643,648,653,658,663,668,673,678,690,695,708,715,728,733,738,743,748,753,758,770,775,780,785,790,795,800,805,810,815,820,825,836,841,846,851,856,863],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,582],{"text":571,"type":572},"In the alliance between President-elect Donald Trump and Elon Musk stands the pending ","text",{"text":574,"type":572,"marks":575},"electric vehicle (EV)",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/ev-and-battery","_blank","url",{"text":583,"type":572}," battery boom in the US. ",{"type":567,"attrs":585,"content":586},{"textAlign":49},[587,593],{"text":588,"type":572,"marks":589},"Lithium ion batteries",[590],{"type":577,"attrs":591},{"href":592,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/lithium",{"text":594,"type":572}," are a new mega-industry in-waiting sparked by $110 billion of Inflation Reduction Act (IRA) money. ",{"type":567,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":572},"Three years ago, while China dominated, the US was a bystander in this global battery arms race with only a handful of gigafactories producing batteries for domestic EV production. ",{"type":567,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":572},"Today, 40 super-sized battery plants span the country in stages of construction that will soon employ up to 4,000 American workers and spark over 50,000 related jobs per site.",{"type":567,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":572},"While EVs and batteries have to date been seen through a Democratic lens, 35 of the 40 gigafactories are in Republican states, especially Michigan, Ohio, Tennessee, Georgia and Arizona. ",{"type":567,"attrs":611,"content":612},{"textAlign":49},[613,615,621],{"text":614,"type":572},"Meanwhile, Nevada is home to Elon Musk’s jewel-in-the-crown, the Tesla ",{"text":616,"type":572,"marks":617},"Gigafactory",[618],{"type":577,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/battery-gigafactory",{"text":622,"type":572}," 1, itself the first and still one of the world’s biggest EV battery plants. ",{"type":567,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":572},"All of this is government-powered, sunk investment. It’s already paid for. ",{"type":567,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":572},"And these super-sized EV battery plants are starting to be turned on.",{"type":567,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":572},"As a result, President Trump will oversee the first ever US battery boom. ",{"type":567,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":572},"In what is one of the greatest plot twists of Election 2024, nearly all of this battery-related economic activity and future jobs are in Republican strong-holds. ",{"type":567,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":572},"Data from Benchmark Mineral Intelligence confirms that 92% of the $110 billion spent is in Republican states while 7% is Democratic. This equates to 93% of the total 1,300 gigawatt-hours (GWh) of batteries expected to come online by 2030.",{"type":567,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":572},"Trump has vowed to oversee a “Golden Age of America” where energy takes centre stage and, whether it is politically convenient or not, batteries lie at the centre of this battle for energy independence.",{"type":567,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":572},"And the same batteries are not just used for EVs but also mass scale energy storage – its real impact seen for the first time in 2024. ",{"type":567,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":572},"California and Texas are now leading the battery storage charge. At times of high demand and cost, batteries are the leading single source of electricity in California – a glimpse of what’s to come.",{"type":567,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":572},"Storing sunshine is another one of Musk’s visions.",{"type":567,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":572},"“If you wanted to power the entire US with solar panels, it would take a fairly small corner of Nevada or Texas or Utah; you only need about 100 miles by 100 miles of solar panels,” Musk said in 2017.",{"type":567,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":572},"This coming of age of battery storage (and ramp up of EVs) has been driven by the falling cost of lithium ion batteries: they are now at the lowest cost point they have ever been. ",{"type":567,"attrs":679,"content":680},{"textAlign":49},[681,683,688],{"text":682,"type":572},"November 2024 data from Benchmark shows that ",{"text":451,"type":572,"marks":684},[685],{"type":577,"attrs":686},{"href":687,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/cathode",{"text":689,"type":572}," batteries’ cost has plummeted to $59 per kilowatt-hour (kWh) while the industry average across all chemistries is $66/kWh.",{"type":567,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":572},"When Musk’s Tesla Gigafactory was being constructed in 2017 batteries were four times this price. ",{"type":567,"attrs":696,"content":697},{"textAlign":49},[698,700,706],{"text":699,"type":572},"Yet unless America gets a grip on the ",{"text":701,"type":572,"marks":702},"supply chain",[703],{"type":577,"attrs":704},{"href":705,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/supply-chain-data",{"text":707,"type":572}," for key battery raw materials, these low prices will not last forever. ",{"type":709,"attrs":710,"content":712},"heading",{"level":711,"textAlign":49},4,[713],{"text":714,"type":572},"Get America Mining Again",{"type":567,"attrs":716,"content":717},{"textAlign":49},[718,720,726],{"text":719,"type":572},"Key critical minerals such as lithium, rare earths, ",{"text":721,"type":572,"marks":722},"nickel",[723],{"type":577,"attrs":724},{"href":725,"uuid":49,"anchor":49,"target":580,"linktype":581},"https://www.benchmarkminerals.com/nickel",{"text":727,"type":572},", graphite, and cobalt are central to the success or failure of the battery and EV movement.",{"type":567,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":572},"These elements now account for up to 80% of the cost of a lithium ion battery.",{"type":567,"attrs":734,"content":735},{"textAlign":49},[736],{"text":737,"type":572},"Batteries mean mining. ",{"type":567,"attrs":739,"content":740},{"textAlign":49},[741],{"text":742,"type":572},"Elon Musk famously called lithium refining “a licence to print money”. ",{"type":567,"attrs":744,"content":745},{"textAlign":49},[746],{"text":747,"type":572},"He has been preoccupied with lithium mining and refining for well over a decade now flirting with major acquisitions and resulting in Tesla building its own lithium refinery in Texas. ",{"type":567,"attrs":749,"content":750},{"textAlign":49},[751],{"text":752,"type":572},"This could be a sign of what is to come on a giga-scale.",{"type":567,"attrs":754,"content":755},{"textAlign":49},[756],{"text":757,"type":572},"China has used its grip on low quality lithium ore production to keep prices artificially low and with it the price of their domestic batteries and electric vehicles. ",{"type":567,"attrs":759,"content":760},{"textAlign":49},[761,763,768],{"text":762,"type":572},"China is now flooding the global market with its domestic EVs resulting in a ",{"text":764,"type":572,"marks":765},"Democratic ",[766],{"type":767},"italic",{"text":769,"type":572},"Administration imposing 100% tariffs on Chinese-made imports – a number that’s simply unheard of. ",{"type":567,"attrs":771,"content":772},{"textAlign":49},[773],{"text":774,"type":572},"The EU followed suit with a softer 35.2% maximum tariff due to its closer ties with China. ",{"type":567,"attrs":776,"content":777},{"textAlign":49},[778],{"text":779,"type":572},"These numbers are big. The geopolitical chips are now on the table.",{"type":567,"attrs":781,"content":782},{"textAlign":49},[783],{"text":784,"type":572},"Controlling the supply chain for these minerals means holding the sway of industrial power. ",{"type":567,"attrs":786,"content":787},{"textAlign":49},[788],{"text":789,"type":572},"Yet the US is still highly dependent on imports for these crucial elements, particularly from China influenced supply.",{"type":567,"attrs":791,"content":792},{"textAlign":49},[793],{"text":794,"type":572},"The first Trump Administration can be credited with starting this focus on critical minerals with Executive Order 13817 back in 2017. It was a timely bid to wrestle control of these supply chains back from China. ",{"type":567,"attrs":796,"content":797},{"textAlign":49},[798],{"text":799,"type":572},"It was a baton that the Biden Administration then ran with as a core part of the Senator Joe Manchin-inspired IRA. ",{"type":567,"attrs":801,"content":802},{"textAlign":49},[803],{"text":804,"type":572},"If America is to have any golden age in these future facing industries, domestic mining and refining of critical minerals must ramp up significantly. ",{"type":567,"attrs":806,"content":807},{"textAlign":49},[808],{"text":809,"type":572},"A mining renaissance is needed in middle America. ",{"type":567,"attrs":811,"content":812},{"textAlign":49},[813],{"text":814,"type":572},"The US needs to make the products that its downstream industries use – no longer can this be outsourced to countries over 10,000 miles away. ",{"type":567,"attrs":816,"content":817},{"textAlign":49},[818],{"text":819,"type":572},"This means mining, refining and chemical-making – all the things that used to happen two generations ago.",{"type":567,"attrs":821,"content":822},{"textAlign":49},[823],{"text":824,"type":572},"A mining renaissance, especially in mineral rich states such as Nevada, Arizona, Utah, and Idaho, would add a 10x multiplier to this entire battery mega-trend.",{"type":567,"attrs":826,"content":827},{"textAlign":49},[828,830,834],{"text":829,"type":572},"It would bring jobs back and secure these future facing industries: a Great American Battery Boom would underpin ",{"text":831,"type":572,"marks":832},"A Golden Age for America",[833],{"type":767},{"text":835,"type":572},".",{"type":567,"attrs":837,"content":838},{"textAlign":49},[839],{"text":840,"type":572},"The US has only done half the job: building EVs and gigafactories are checked.",{"type":567,"attrs":842,"content":843},{"textAlign":49},[844],{"text":845,"type":572},"President Trump now has the chance to finish what he started and bring critical minerals mining back to America. ",{"type":567,"attrs":847,"content":848},{"textAlign":49},[849],{"text":850,"type":572},"Politically speaking, it’s all lined up.",{"type":567,"attrs":852,"content":853},{"textAlign":49},[854],{"text":855,"type":572},"The blocker: whether President Trump and Elon Musk can make this happen at speed and take this golden opportunity. ",{"type":567,"attrs":857,"content":858},{"textAlign":49},[859],{"text":860,"type":572,"marks":861},"Benchmark has the world’s largest team of analysts dedicated to lithium ion and energy transition supply chains.",[862],{"type":767},{"type":567,"attrs":864,"content":865},{"textAlign":49},[866,870,874],{"text":867,"type":572,"marks":868},"To learn more or speak with our experts, provide your details ",[869],{"type":767},{"text":871,"type":572,"marks":872},"here",[873],{"type":767},{"text":835,"type":572,"marks":875},[876],{"type":767},"In the alliance between President-elect Donald Trump and Elon Musk stands the pending electric vehicle (EV) battery boom in the US. Lithium ion batteries are a new mega-industry in-waiting sparked by $110 billion of Inflation Reduction Act (IRA) money. Three years ago, while China dominated, the US was a bystander in this global battery arms […]",[879],{"slug":555,"name":556,"content":880},{"job_title":558,"image":881,"bio":561,"linkedin":562},{"filename":560},"article",[884,887],{"slug":885,"name":886},"batteries","Batteries",{"slug":888,"name":889},"critical-minerals","Critical Minerals","public","Benchmark Mineral Intelligence",{"id":49,"alt":893,"name":893,"focus":893,"title":893,"source":893,"filename":894,"copyright":893,"fieldtype":895,"meta_data":896,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/5f43c94a9b/bm-us-flag-auto.jpg","asset",{"alt":893,"title":893,"source":893,"copyright":893},"Simon Moores","CEO","Nov 26, 2024","26th November 2024",[],[],{"id":904,"uuid":905,"name":906,"slug":907,"full_slug":907,"content":908,"relatedArticles":912,"relatedVideos":913},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":909,"component":907,"black_listed_email_domains":910,"_editable":911,"formattedDate":893,"formattedArticleDate":893},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1784633802286]