The world's largest nickel and cobalt projects are seeking financing is expected to build next year
On January 15, the Canadian miner RNC Minerals rose more than 47% after the company said it is in talks with commodity traders, miners and investors to raise $ 1 billion to build the world's largest nickel next year Cobalt Project - Dumont Mine in Quebec.
Mark Selby, president and chief executive officer of RNC Minerals, said the Dumont nickel-cobalt project has the world's largest untreated reserves of cobalt and nickel. According to S & P Global Market Intelligence data, Dumont's nickel reserves are 3.15 million tons and its cobalt reserves are 126,000 tons.
The next 10 years, the demand for electric vehicles will increase substantially, the demand for metal used in batteries is also expected to increase. That's why RNC Minerals also hopes to benefit. UBS analysts said that by 2025, 15 million electric vehicles will be sold, so the demand for nickel will increase by 300,000 to 900,000 tons, accounting for about 10% to 40% of the current market. Benchmark Mineral Intelligence said demand for cobalt will also increase from 48,000 tons in 2016 to 180,000 tons in 2026.