The car industry’s hunt for coveted battery metals has stepped up and more manufacturers are signing contracts directly with mining companies.
The European car industry has realised that it is facing a huge transformation to electric car production. Companies are finding that some of the materials are not in limitless supply. Demand for metals and minerals such as cobalt, graphite and lithium is expected to increase between 8 and 11 per cent by 2030, according to a report from the European Commission’s research institute JRC.
According the Geological Survey of Sweden and the Agency for Growth Policy Analysis, there is a huge potential to explore for crucial metals in Sweden and Scandinavia.
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