Japanese trading house Mitsubishi Corp plans to invest in nickel-lithium projects to meet growing demand for electric vehicle (EV) batteries, Satoshi Koyama, head of the company’s metals division, said on April 13, according to Yahoo.
The move comes in the wake of a global push by automakers to electrify their fleets, sparking a frenzy for stable supplies of lithium, nickel, copper and other critical minerals. Demand is expected to exceed supply by the end of the decade.
“As global resource companies and others search for lithium and nickel, we are considering investing in mining these two metals.”Satoshi Koyama said at an analyst meeting.
He also added that Canada and Australia could be investment targets for nickel as they meet safety criteria in terms of geopolitical risk and access to renewable energy in terms of decarbonization.
Recall that in 2022, Mitsubishi bought a 15% stake in a joint venture with Giga Metals Corp to continue developing a nickel deposit in Canada.
Source: Rossa Primavera
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