With expected demand from electric vehicle manufacturers, a nickel supply crisis may be looming, but with the right market conditions and government support, production of this critical mineral could accelerate, according to Perry Little, director Green River Gold (CSE:CCR) executive.
About 70 percent of nickel demand comes from stainless steel, but electric vehicles are expected to have a significant impact on its use. “I think we now have something like 5 percent of the demand for nickel in (electric) vehicles. And that’s going to increase dramatically. So where does that extra nickel come from? Little said.
Interest from both governments and the private sector will drive growth in the nickel space, he added.
“You’re seeing governments support the industry now…the US military is trying to secure nickel supplies. That’s not a secret,” she noted. “The big companies are investing money in the sector and that will eventually boost the offer. But there’s going to be a gap there, because you just can’t light these mines like that. So anything that’s a promising early stage nickel deposit I think will get strategic investment. I think you’ll see it happen quickly.”
Watch the full interview with Green River Gold CEO Perry Little above.
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