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Green Rush
Listen to Kitco Mining's Green Rush to understand and profit from a once in a century event: the clean energy transition.
Each week host Matt Watson, founder of Precious Metals Commodity Management, will take a deep dive on a metal that will underpin our new electrified world. Green Rush explores the vital role of nickel, copper, lithium, cobalt, silver, platinum group metals, rare earth elements and other metals that power the batteries driving our sustainable future.
Green Rush
Energy transitions biggest bottleneck? The time it takes to build a mine
Last week Matt Watson and Andrew Miller of Benchmark Mineral Intelligence recorded an episode of Green Rush to dissect the challenges facing the clean energy revolution, particularly in the realm of lithium-ion batteries for electric vehicles.
While policymakers target aggressive timelines for zero-emission vehicle adoption, the industry faces significant hurdles in scaling the battery supply chain. The biggest obstacle is the lengthy development process for new mines, which can take up to 17 years. This directly impacts the availability of lithium, nickel, cobalt, and other crucial metals. Benchmark's analysis reveals that to meet lithium demand alone by 2035, the equivalent of 74 new large-scale mines would be needed – a questionable feat.
Automakers, including Tesla, are placing increasing emphasis on responsible mining and minimizing the environmental impact of battery production. This means choosing less polluting extraction methods, reducing cobalt content in batteries, and addressing water scarcity and pollution concerns associated with lithium production. The clean energy transition hinges on the industry's ability to balance ambitious growth targets with environmental and social responsibility.
