Graphite, Manganese and Vanadium ride high on soaring demand for battery minerals

The December quarter saw a flurry of activity in the Australian battery minerals space as the country is rapidly becoming a key player in the global battery materials supply chain.

There is a need for more electric batteries to be produced in line with the growing global demand for electric vehicles (EVs).

This has created a surge in demand for battery minerals such as graphite, manganese and vanadium, which are used in the production of these batteries.

Under the International Energy Agency’s (IEA) Announced Pledges Scenario, or APS, based on existing climate-focused policy pledges and announcements, electric vehicles are presumed to represent more than 30% of vehicles sold globally in 2030 across all modes.

To reach this, global battery capacity will need to expand.

Today the world is manufacturing around 340 GWh/year of batteries and by 2030, the requirements would be roughly 10 times higher, requiring full output from around 100 gigafactories.

According to the APS, the supply of battery minerals will need to increase by up to one-third by 2030 to match the demand for EV batteries to satisfy global pledges and announcements.

A range of challenges continues to threaten output, including the need for large investments to establish mining operations necessary for supporting battery minerals production globally.

Let’s look at how some of the ASX-listed battery minerals juniors performed over the December quarter.

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