Australian Metal Exports Central to Global Energy Transition Set to Double to $33 Billion

Australia already the world’s number one exporter in iron ore, natural gas and coal is set to see its metal exports essential to the global energy transition from fossil fuels double in just over a year to $33 billion. These metals include copper, nickel and lithium. The venerable Resources and Energy Quarterly from the Australian Office of the Chief Economist’s outlook for global commodity prices, demand and supply sees a dramatic surge in Australian exports critical to energy transition.  Australia’s resource … Continue reading “Australian Metal Exports Central to Global Energy Transition Set to Double to $33 Billion”

GM Secures Nickel and Cobalt for New EVs with Queensland Pacific Metals Investment

Auto giant GM on Tuesday announced a new strategic collaborative agreement to secure a source of nickel and cobalt with Australian company Queensland Pacific Metals. The deal secures a source of nickel and cobalt for the production of new GM Ultium batteries. GM’s goal is reaching 1 million units of EV production capacity in North America by mid-decade. $GM says the raw materials will be used in building a broad range of all-electric vehicles, including the Chevy Silverado EV, GMC … Continue reading “GM Secures Nickel and Cobalt for New EVs with Queensland Pacific Metals Investment”

Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended

LME suspended nickel trading for at least the remainder of the day Tuesday after Nickel prices roughly doubled to all-time highs Tuesday, up 500% from Friday. Nickel soared over $100,000 a ton to an all-time high on the London Metal Exchange when prices surged around $40,000 in just one hour. The move came from a short squeeze with a major Chinese bank where a unit of China Construction Bank Corp. extra time to pay hundreds of millions of dollars in … Continue reading “Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended”

Australian Mines Record Cobalt and Nickel Exports

Mining company Australian Mines will export 40kg of battery-grade nickel sulphate and 4kg of battery-grade cobalt sulphate to Korean partner SK Innovation. This is an Australian record for the export shipment of each ore putting Australia in pole position for electric vehicles..