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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":701,"relatedVideos":702},112473068388033,"788bc60d-f9d9-4c6f-87f4-983bf9a1bbc9","Tesla and BHP back nickel projects to develop supply outside of Indonesia","tesla-and-bhp-back-nickel-projects-to-develop-supply-outside-of-indonesia","article/tesla-and-bhp-back-nickel-projects-to-develop-supply-outside-of-indonesia",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":680,"featured":50,"reporter":681,"_editable":685,"component":686,"seo_title":543,"categories":687,"visibility":693,"author_company":49,"featured_image":694,"seo_description":680,"author_full_name":49,"author_job_title":49,"formattedDate":699,"formattedArticleDate":700},"510768b6-4dbc-47b3-add9-3ec74b80b647","2022-01-11 00:00",[550,553],{"slug":551,"name":552},"bhp","BHP",{"slug":554,"name":555},"tesla","Tesla",[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",[569,576,581,586,591,614,619,632,637,642,645,650,655,660,665,670,675],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Tesla has agreed to buy nickel from Talon Metals’ mine in Minnesota, in its first deal to secure supplies of US metal for its batteries.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"The automaker said the project, which is due to produce nickel in 2026, had the “promise to accelerate the production of sustainable energy products in North America.”",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"The deal comes a day after the world’s largest miner BHP said it would invest up to $100 million in the Kabanga nickel project in Tanzania, which is due to come into production in 2025. The investments reflect efforts to develop nickel supply outside of Indonesia, which is set to account for the majority of the market by the end of this decade, according to Benchmark’s Nickel Forecast.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"Last year Sibanye Stillwater agreed to buy the Santa Rita nickel mine in Brazil for $1bn.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594,596,604,606,612],{"text":595,"type":575},"Automakers such as Tesla ",{"text":597,"type":575,"marks":598},"are wary of nickel supply from Indonesia",[599],{"type":600,"attrs":601},"link",{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":603},"https://source.benchmarkminerals.com/article/elon-musks-green-nickel-crusade","url",{"text":605,"type":575}," since it is ",{"text":607,"type":575,"marks":608},"processed using coal-fired power",[609],{"type":600,"attrs":610},{"href":611,"uuid":49,"anchor":49,"target":49,"linktype":603},"https://source.benchmarkminerals.com/article/what-does-tsingshans-nickel-matte-deal-mean-for-lithium-ion-and-the-nickel-industry",{"text":613,"type":575}," and is also mined in sensitive environmental habitats.",{"type":570,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":575},"Tesla has already agreed to buy nickel from the Goro mine in New Caledonia as well as from BHP’s Nickel West project in Australia, among others.",{"type":570,"attrs":620,"content":621},{"textAlign":49},[622,624,630],{"text":623,"type":575},"While Tesla has begun to use ",{"text":625,"type":575,"marks":626},"lithium iron phosphate batteries",[627],{"type":600,"attrs":628},{"href":629,"uuid":49,"anchor":49,"target":49,"linktype":603},"https://source.benchmarkminerals.com/article/west-needs-to-build-lfp-battery-capacity-for-technology-to-go-global",{"text":631,"type":575},", which don’t contain nickel, for its standard range cars, it still needs nickel for its longer range vehicles, as well as its planned electric truck.",{"type":570,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":575},"The deal with Talon allows Tesla to acquire nickel probably at a discount, while providing support for Talon to finance the mine through to production, Greg Miller, an analyst at Benchmark, said.",{"type":570,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":575},"“Tesla’s involvement will also allow them to secure capital easier,” he said.",{"type":570,"attrs":643,"content":644},{"textAlign":49},[],{"type":570,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":575},"Talon Metals said it is “committed to meeting the highest standards of responsible production that is fully traceable and that has the lowest embedded CO2 footprint in the industry.” It also said it wants to develop a “responsible processing capability in the US.”",{"type":570,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":575},"The company is also exploring using future mine tailings waste to store carbon dioxide, a greenhouse gas, which could lower the project’s carbon footprint even further. Last year Talon signed an agreement with startup Carbon Capture to assess the opportunity.",{"type":570,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":575},"“The Talon team has taken an innovative approach to the discovery, development and production of battery materials, including to permanently store carbon as part of mine operations and the investigation of the novel extraction of battery materials,” Drew Baglino, senior vice president of Powertrain and Energy Engineering at Tesla, said.",{"type":570,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":575},"Tesla has agreed to buy 75,000 tonnes of nickel concentrate from Talon’s Tamarack project, with a preferential right to negotiate to buy more metal in the future. The agreement lasts for six years or until 75,000 tonnes is delivered.",{"type":570,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":575},"It is conditional upon Talon increasing its interest in the project to 60% from 51% and commencing production. The project is currently a joint venture with Rio Tinto.",{"type":570,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":575},"Talon and Tesla will work together to optimise nickel concentrate grades and metal recoveries, Talon said. The purchase price will be linked to the London Metals Exchange (LME) official cash settlement price for nickel.",{"type":570,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":575},"It is unclear, however, where the nickel concentrate will be refined into a form suitable for batteries such as nickel sulphate.","Tesla has agreed to buy nickel from Talon Metals’ mine in Minnesota, in its first deal to secure supplies of US metal for its batteries. The automaker said the project, which is due to produce nickel in 2026, had the “promise to accelerate the production of sustainable energy products in North America.” The deal comes […]",[682],{"slug":558,"name":559,"content":683},{"job_title":561,"image":684,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"510768b6-4dbc-47b3-add9-3ec74b80b647\", \"id\": \"\"}-->","article",[688,691],{"slug":689,"name":690},"critical-minerals","Critical Minerals",{"slug":692,"name":150},"nickel","private",{"id":49,"alt":695,"name":695,"focus":695,"title":695,"source":695,"filename":696,"copyright":695,"fieldtype":697,"meta_data":698,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/98b3241898/bm-0x0-supercharger-01.jpg","asset",{"alt":695,"title":695,"source":695,"copyright":695},"Jan 11, 2022","11th January 2022",[],[],1781023450771]