BHP bets big on EV-driven nickel boom
2022-08-26 08:05:15

Miner pursues battery material while shrinking dependence on China, iron ore

SYDNEY -- Anglo-Australian mining giant BHP is making a massive investmenst in nickel, the critical material found in electric-vehicle batteries that is powering the next generation of vehicles.

The group signaled the pivot earlier this month by announcing it will spend 140 million Australian dollars ($96.6 million) over two years to explore untapped troves of nickel around an existing development.

"This year will be the highest annual spend for exploration in Nickel West since ... 2005," Jessica Farrell, asset president at BHP Nickel West, said at an Aug. 3 industry conference.

https://asia.nikkei.com/Business/Materials/BHP-bets-big-on-EV-driven-nickel-boom