David Phua

Oct 12, 2023 | lexology.com | David Phua |Tim Edwards |Kenneth Koh |Yueqi Zhang

Nickel is set to become one of the most important critical minerals in the net zero transition, reaching a predicted global market of almost US$60bn within 5 years. Future industry growth will be driven by the dramatic increase in demand for lithium-ion EV batteries – of which nickel is a key component. Given the exponential growth in demand, there is still a high risk that supply will fall short in the coming decade.