GRACELIN BASKARAN: Miners should focus on countercyclical exploration, output
26 October 2023 - 05:00
The rush to decarbonise has created unprecedented demand for battery metals. The International Energy Agency (IEA) has estimated that by 2040 demand for lithium will grow by a factor of 40, as it will for cobalt and nickel.
It therefore feels counterintuitive that metal prices and drilling have declined considerably since the beginning of the year. Lithium prices have come down 70% and nickel prices 40%. Copper prices are edging towards a low for the year and cobalt is nearing record lows. ..
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