Battery metals are those metals most commonly used in the manufacture of batteries. As technology and battery formulations evolve, so does the list of “core” battery metals. For example, electric vehicle (EV) batteries’ core components today would be Lithium, Cobalt, Graphite, Manganese and Nickel, but other metals such as Vanadium, Zinc, Magnesium, Copper and Aluminium play important and expanding/evolving roles, especially in other energy storage applications.
As the world looks to reduce carbon dioxide emissions through decarbonization, the battery industry has taken a primary role. The explosive growth of the industry is largely being driven by two areas that hold the greatest potential for overall reduction in greenhouse gas (GHG) emissions – the electrification of transportation and the adoption of intermittent renewable energy (which creates a corresponding need for grid level storage solutions).
However, the carbon footprint of battery production is not insignificant. On the transportation side, it is commonly accepted that the production of an EV is currently more carbon intensive generally than the production of a traditional combustion engine vehicle and that the net carbon benefit of an EV is only realized over its lifecycle (incorporating its use phases). As the integration of batteries into our lives increases, the focus will be on trying to reduce the carbon footprint inherent in the production phase (including mining) and on ensuring that the electricity used to charge the batteries is generated using low carbon power sources.
The lithium-ion technology that is currently the most pervasive in EVs may also not be the best fit for all applications. Flow batteries, for example, may be a better overall solution for grid level storage. In particular, vanadium redox flow batteries (VRFBs) are ideal for long use with no degradation in the electrolyte over the useful life of the battery and, following the useful life of the battery, the electrolyte can be readily used in another battery system or the contained vanadium can be readily separated from the electrolyte and used in other applications. This is a challenge with lithium-ion battery systems where the electrolyte degrades over use and is required to be replenished over the course of the same useful life. In addition, the electrolyte in a VRFB is neither flammable, nor explosive – as a result of its high water content – which as you scale to grid size storage offers increased operational safety compared to the lithium ion systems. All of this results in an overall safer and greener alternative for grid applications.
Environmental, social, and corporate governance (ESG) is also a major concern with battery metals and, in particular, for cobalt where a significant proportion of the world’s cobalt comes from the Democratic Republic of Congo and from companies/producers that do not necessarily adhere to global standards and best practices. However, following a number of major incidents – most notably the Brumadinho dam disaster in Brazil – ESG in mining has been a very public and growing area of focus globally for companies of all sizes. That being said, most Canadian mining companies are good corporate and global citizens and are working hard to be both sustainable and profitable – looking to find ways to benefit the communities in which they operate, maintain the environment and still produce the commodities we need to electrify the world.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
