HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Musk Promises ‘Giant Contract’ for Efficiently Mined Nickel
OK Noront get on the phone.....perfect fit
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https://www.bnnbloomberg.ca/musk-promises-giant-contract-for-efficiently-mined-nickel-1.1469461
Musk Promises ‘Giant Contract’ for Efficiently Mined Nickel
Brian Eckhouse and Yvonne Yue Li, Bloomberg News
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Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., speaks during a discussion at the Satellite 2020 Conference in Washington, D.C., U.S., on Monday, March 9, 2020. The event comprises important topics facing both satellite industry and end-users, and brings together a diverse group of thought leaders to share their knowledge. , Bloomberg
(Bloomberg) -- Elon Musk has a plea for mining companies: “Please mine more nickel.”
“Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way,” said Musk, chief executive officer of the electric-carmaker, during a second-quarter earnings call.
Musk’s plea comes as one of Japan’s general trading giants is about to take a roughly $500 million writedown on a nickel project in Madagascar because of low prices and the coronavirus pandemic.
Supplies of battery-grade nickel -- a key component in the cathode of an electric vehicle’s battery -- could run short as early as 2023. BloombergNEF expects a tight balance in the next two to three years as lithium-ion battery demand picks up.
Already, Ambatovy -- one of the world’s largest nickel projects, with full operational capacity representing 5% of class 1 nickel global production capacity -- hasn’t resumed operations after being suspended in March 2020. An extended suspension will exacerbate the potential tightness in the nickel market.
©2020 Bloomberg L.P.
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