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strikes Northvolt deal as uncertainty surrounds Russian nickel","vale-strikes-northvolt-deal-as-uncertainty-surrounds-russian-nickel","article/vale-strikes-northvolt-deal-as-uncertainty-surrounds-russian-nickel",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":697,"featured":50,"reporter":698,"_editable":702,"component":703,"seo_title":553,"categories":704,"visibility":708,"author_company":49,"featured_image":709,"seo_description":697,"author_full_name":49,"author_job_title":49,"formattedDate":714,"formattedArticleDate":715},"d7b6f981-4d26-470d-8b27-e5d8078203d8","2022-03-24 00:00",[560,563,566,569],{"slug":561,"name":562},"canada","Canada",{"slug":564,"name":565},"northvolt","Northvolt",{"slug":567,"name":568},"russia","Russia",{"slug":570,"name":571},"vale","Vale",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"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":583,"content":584},"doc",[585,592,597,602,607,612,619,634,639,644,649,654,659,664,669,682,687,692],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589],{"text":590,"type":591},"European battery startup Northvolt said it would buy nickel for its batteries from Vale in Canada, in a move that secures low carbon supplies of the metal in the face of a potential shortage following Russia’s invasion of Ukraine.","text",{"type":586,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":591},"Vale said it had signed a “multi-year” supply agreement with Northvolt for nickel from its Long Harbour refinery in Newfoundland, Canada, saying the metal had one of the lowest carbon footprints in the industry.",{"type":586,"attrs":598,"content":599},{"textAlign":49},[600],{"text":601,"type":591},"The deal comes amid turbulence in the nickel market following the decision by the London Metal Exchange to suspend trading in its nickel contract earlier this month due to a rapid rise in prices after Russia’s invasion of Ukraine.",{"type":586,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":591},"The invasion has created uncertainty about whether automakers will accept nickel from Norilsk Nickel, which has a deal to supply metal for electric vehicles to German cathode maker BASF. The company, which is led by billionaire Vladimir Potanin, has not been sanctioned by any government.",{"type":586,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":591},"Norilsk accounts for around 17% of the world’s production of high purity class 1 nickel, according to Benchmark. It is also one of the few providers of low-carbon nickel globally.",{"type":613,"attrs":614,"content":616},"heading",{"level":615,"textAlign":49},4,[617],{"text":618,"type":591},"Indonesia’s carbon conundrum ",{"type":586,"attrs":620,"content":621},{"textAlign":49},[622,624,632],{"text":623,"type":591},"Most of the growth in nickel supply is set to come from ",{"text":625,"type":591,"marks":626},"Indonesia",[627],{"type":628,"attrs":629},"link",{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":631},"https://source.benchmarkminerals.com/article/indonesia-set-for-five-fold-increase-in-battery-nickel-supply","url",{"text":633,"type":591}," this decade, but the carbon footprint can be up to five times that produced in Russia and Canada, according to Benchmark ESG.",{"type":586,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":591},"Vale said its nickel plating rounds from the Long Harbour processing plant, which is a hydrometallurgical facility, has a carbon dioxide equivalent footprint of 4.4 tonnes CO2 equivalent per tonne of nickel. This includes  scope 1 and 2 emissions as well as scope 3 (upstream) emissions.",{"type":586,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":591},"That compares with around 8 tonnes of CO2 per tonne of nickel cathode for Nornickel, according to the company.",{"type":586,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":591},"The amount of CO2 produced for a tonne of nickel from Indonesia can be as high as 97 tonnes, according to Bruna Grossl, an LCA practitioner at Benchmark.",{"type":586,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":591},"Vale said the carbon footprint of its nickel was likely to fall further as it aims to cut absolute carbon emissions company-wide by 33% by 2030.",{"type":586,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":591},"Vale’s Canadian operations have a capacity of around 113,000 tonnes of nickel. However this is dwarfed by the increasing amount of supply from Indonesia.",{"type":586,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":591},"Tsingshan is set to produce 50,000 tonnes of nickel matte for batteries this year, rising to 75,000 tonnes next year, according to Benchmark. Nickel matte from Indonesia has the highest carbon footprint of all nickel for batteries as it is produced from the same furnaces used to produce nickel pig-iron, a metal used to make stainless steel.",{"type":586,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":591},"Many automakers may face no choice but to secure supplies of nickel from Indonesia, according to Socrates Economou, chief nickel and cobalt trader at Trafigura, which will increase the carbon footpring of electric vehicles.",{"type":586,"attrs":670,"content":671},{"textAlign":49},[672,674,680],{"text":673,"type":591},"This week Volkswagen China said it ",{"text":675,"type":591,"marks":676},"had signed an agreement",[677],{"type":628,"attrs":678},{"href":679,"uuid":49,"anchor":49,"target":49,"linktype":631},"https://source.benchmarkminerals.com/article/volkswagen-set-to-enter-high-nickel-cathode-production-as-it-agrees-nickel-cobalt-supply-deal-with-huayou-and-tsingshan",{"text":681,"type":591}," with Huayou Cobalt and Tsingshan to develop nickel and cobalt resources in Indonesia.",{"type":586,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":591},"The three companies said they will form a joint venture to develop annual production of 120,000 tonnes of nickel and 15,000 tonnes of cobalt in Indonesia – enough for 160 gigawatt-hours of batteries.",{"type":586,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":591},"Huayou and Volkswagen said the project would be “sustainable” without giving more details.",{"type":586,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":591},"“Volkswagen Group China intends to tap deeper into the battery raw material supplier chain, to drive NEV growth cost-efficiently, securely and sustainably,” Volkswagen China’s chief executive Stephan Wöllenstein, said.","European battery startup Northvolt said it would buy nickel for its batteries from Vale in Canada, in a move that secures low carbon supplies of the metal in the face of a potential shortage following Russia’s invasion of Ukraine. Vale said it had signed a “multi-year” supply agreement with Northvolt for nickel from its Long […]",[699],{"slug":574,"name":575,"content":700},{"job_title":577,"image":701,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d7b6f981-4d26-470d-8b27-e5d8078203d8\", \"id\": \"\"}-->","article",[705],{"slug":706,"name":707},"critical-minerals","Critical Minerals","private",{"id":49,"alt":710,"name":710,"focus":710,"title":710,"source":710,"filename":711,"copyright":710,"fieldtype":712,"meta_data":713,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/c924a938f6/bm-long-harbour-operations-electrowinning-2-e1648125833480.jpg","asset",{"alt":710,"title":710,"source":710,"copyright":710},"Mar 24, 2022","24th March 2022",[],[],1792773928852]