The world is expected to need more nickel.
Our production is expected to make a major contribution to a new cleaner supply, providing an essential supply chain solution.
Nickel is essential to batteries supporting the energy transition, delivering higher energy density and greater storage capacity at a lower cost.
Lifezone will process nickel sulphides, which have lower Green House Gas (GHG) intensity compared to laterite ores; this will be further enhanced by Kabanga’s integrated refining.
Wood Mackenzie projections show that 1.5 million tonnes of nickel from new sources is required by 2050.
Demand is expected to grow dramatically from 2025 in line with looming international emissions targets.
Nickel – A critical metal
Nickel represents up to 80% of lithium-ion batteries’ cathode content.1
Lithium-ion batteries are the single largest cost component in EVs
1.5 million tonnes of nickel from new sources is required by 2050.2
1. Nickel Institute, 2022. Percentages relate to mass of active materials in Nickel Manganese Cobalt lithium-Ion batteries.
2. Bespoke Nickel Market Outlook for Lifezone Limited, a product of Wood Mackenzie, September 2022.
A key metal in achieving the transition to clean energy.
It conducts electricity, is ductile and is highly recyclable.
Critical to renewable energy equipment, including wind and solar projects, and electric vehicles.
Cobalt demand1 is forecast to grow at a CAGR of 3.4% to 2035, rising from 190-195 kt this year to 280 kt.
Automotive, portable electronics and energy storage will lead future growth and in turn service demand for battery-grade chemicals.
Aerospace recovery and rising power generation requirement continue to drive metal demand. The proportion of total demand accounted for by secondary batteries and the requirement for electrification will move up from 45% this year to 66% by 2035.
Of the non-EV applications, mobile phones are the largest end use.
1. Bespoke Nickel Market Outlook for Lifezone Limited, a product of Wood Mackenzie, September 2022.