The race to secure critical supplies of nickel is heating up as major players in the industry continue to invest in domestic nickel projects, despite a price drop in 2023. One such player, KoBold Metals, backed by billionaires like Bill Gates and Jeff Bezos, is using artificial intelligence to search for nickel on multiple projects worldwide. Automaker General Motors Company recently signed a $19 billion deal with LG Chem to secure cathode materials for future electric vehicle production.
Alaska Energy Metals Corporation, Canada Nickel Company Inc., FPX Nickel Corp., and Nickel 28 Capital Corp. are all making significant advances in their respective nickel projects. Alaska Energy Metals recently reported a major increase in their Nikolai Nickel Project’s mineral resource estimate, positioning them as one of the largest domestic nickel deposits in the US.
Canada Nickel Company is proposing to build a $1 billion nickel processing plant in Ontario, while FPX Nickel Corp. filed a Preliminary Feasibility Study for its Baptiste Nickel Project in British Columbia. Nickel 28 Capital Corp. reported strong production figures from its joint-venture operation in Papua New Guinea.
With the increased demand for nickel in battery production for electric vehicles, these companies are positioning themselves to become key players in the nickel supply chain. General Motors’ partnership with LG Chem also highlights the importance of securing a stable supply of nickel for the future of the electric vehicle market.
As the industry continues to evolve, these companies are at the forefront of innovation and development in the nickel sector, paving the way for a sustainable and reliable supply chain for critical minerals.
