White House Raises Battery-Grade Nickel to “Critical” in 100-Day Supply Chain Review, Notes Huge Seabed Resource Potential
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VANCOUVER, British Columbia – (BUSINESS WIRE) – The Metals Company (formerly DeepGreen Metals), a Canadian explorer of low-impact battery metals from polymetallic nodules on the seabed, today welcomed the findings of the full study of the White House 100 day review address supply chain challenges and explained how his plans can make a material contribution to the relocation of US supply chains for essential minerals needed for batteries.
The challenges described by The Metals Company in its recent response to the Energy Department’s request for information following an earlier executive order, include an insufficient and highly concentrated supply of battery metals, increasing costs and the impact growing environmental and social supply. these minerals through land mining.
“The Biden administration has rightly recognized that a stable and secure battery supply chain is paramount to sustaining the economic prosperity and national security of the United States. Declaring nickel as one of the three most critical minerals for batteries and including battery metal processing in the $ 17 billion loan program for the manufacture of advanced vehicles are important steps for the United States. United to start building their mineral independence while playing a larger role in cleaning up the energy transition, ”said Gérard Barron, Chairman and CEO of The Metals Company.
“We have an abundant, viable and inexpensive solution that can meet the United States’ needs for critical battery metals like nickel, without which true mineral independence cannot be achieved. And with an ESG impact footprint that’s a fraction of that of conventional terrestrial minerals, our nodule resource can ensure these needs are met with the slightest planetary touch. ”
Regarding The Metals Company, the report makes the following recommendations and observations:
- Raising nickel to “critical” status – The report explicitly cites nickel 146 times, naming it as one of the three battery metals deemed “most critical” to US interests, alongside cobalt and lithium. Polymetallic nodules contain rich concentrations of nickel and cobalt, as well as copper and manganese, and effectively constitute a “battery in a rock”.
- Expanding the Scope of Government Funding for Critical Mineral Processing in the United States – The Department of Energy’s $ 17 billion Advanced Technology Vehicle Manufacturing (ATVM) loan program has been expanded to provide access to suppliers involved in the refining and processing of essential minerals.
- Potential of seabed minerals – Although not covered directly in the report, the authors noted that “seabed resources could be an important future source of strategic and critical materials”, with additional value derived from “dual technology development”. use associated with unmanned submarine vessels and hydrographic mapping ”.
The United States must invest in the sustainable extraction and processing of essential minerals, at home and abroad.
Lying alone on the seabed, the nodules can be collected without drilling or blasting.
Compared to terrestrial ores, polymetallic nodules can reduce the environmental and social impacts of the life cycle of battery metal production by 70%.–99%.
Nodules can be shipped anywhere in the world to be processed with zero solid waste and no toxic residue, bringing a plentiful, low-impact supply of battery metals to America’s doorstep.
- Work with allies and partners to diversify supply chains – China has effective control over land supplies of essential minerals and, through its investments in Indonesia, will soon control 60% of the nickel supply and almost all of the new growth in nickel supply through offtake agreements. guaranteed. However, China has yet to corner the market for seabed resources like polymetallic nodules.
- Reform and strengthen US stocks – The report recommended that the administration and Congress “recapitalize and restore the stockpile of essential national defense minerals,” including nickel, cobalt and manganese, in order to protect access for domestic end users.
About The Metals Company
The Metals Company is a Canadian explorer of low-impact battery metals from polymetallic seabed nodules with a mission to build a carefully managed base metal that will be used, recovered and reused – for generations to come. The company, through its subsidiaries, holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton area of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the Governments of Nauru, Kiribati and the Kingdom of Tonga. In March, DeepGreen Metals Inc. announced that it had entered into a business combination agreement with Sustainable opportunity acquisition company (SOAC) to accelerate the development of the project, and is expected to be listed on the NASDAQ under the symbol “TMC”. For more information visit https://metals.co/.
Rory Usher | The Metals Society | [email protected]
Investors | [email protected]
Source: The Metals Company