EV race ignores Russian, Chinese mineral speed traps - CFACT

EV race ignores Russian, Chinese mineral speed traps - CFACT

"U.S. and European electric vehicle (EV) companies are racing to cash in on markets driven by dependence upon government subsidies which, in turn, rely on scarce and costly materials needed for batteries controlled by foreign adversaries...

• Take nickel, for example, of which Russia produces about 7% of the global supply and 20% of the world’s class 1 (98% pure quality) used both for advanced electric vehicle batteries and stainless steel production...
• After years of delays and navigating through a maze of regulations, the Biden administration recently canceled a proposed nickel and copper mine in northern Minnesota, and America’s only remaining high-grade nickel mine in Michigan is expected to exhaust deposits in 2025
• Then there’s another major EV battery dependence on 17 indispensable rare earth minerals and compounds, with about 80% of the global supply — including lithium (12% worldwide) — controlled by China...Read all.