Mining for a Prosperous Future

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In 2019, the year that shook the automotive industry along with every other industry, electric vehicles (EVs) were moving steadily into the spotlight. The combined annual vending of battery electric vehicles and plug-in hybrid electric vehicles tipped over the two-million-vehicle mark for the first time in 2019. This much-anticipated milestone might have become overshadowed by economic uncertainty and changed consumer priorities, but there is value in taking stock of the electric vehicle market even now. In January 2019, the EV market has made great strides, and not just in terms of vending. OEMs have capitalized billions to deliver new electrified models, from R&D to factory redesign. Consumer attitudes have evolved. Government interventions have pushed forward. These EVs are powered solely by lithium batteries. They use an electric motor to turn the wheels and produce zero emissions.

In addition, The EV market could develop even faster than anyone imagined. By 2040, it could spiral by nearly 60x, and by 2050, it could be a staggering potential of $46 trillion industry. Right now, battery explorers could highly benefit the call for lithium. The low carbon world needs roughly $1.7 trillion in mining expenditures, according to Mining.com. By 2030, EV battery needs could heighten by 15X, while the call for battery metals could also prosper by approximately 500% by 2050. (1) We’ve been underestimating how rapidly EVs could take over the roads. The game has changed, and the time is now for this new era in mobility and transportation. In this post, you might explore something big that could happen in the near future!

Take lithium, or the “white metal.” Lithium, a common geological commodity, is difficult to extract due to its density. These batteries, referred to as lithium-ion (Li-ion) batteries, are used in everything from portable electronics to military, vehicle and aerospace applications. With that, the world is running into a problematic supply-needs situation with lithium. The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles could have to be ramped at the top over the next decades if the planet’s climate targets are to be met. At least 30 times as much lithium, nickel, and other key minerals might be required by the electric car industry by 2040 to meet global climate targets.

Furthermore, if the U.N. calls climate change “code red” for humanity, with immediate changes to carbon emissions our only hope for survival. The moves being made for EV development are undeniable. As recently, for example, the current U.S. administration proclaimed its goal of making half of new U.S. automobiles electric by 2030. Yet, while the automakers get the attention, these other lithium explorers are shaping as the top long-term plays for this new era. (2) EV industries could be the easiest and most mindless way to get involved in the future of clean mobility and transportation. Right here, you could focus on these mineral exploration industries that could explore battery metals required for the EV market both for near-term and long-term needs!

To put it bluntly, the outlook for EV adoption is getting much brighter, due to a combination of more policy support, further improvements in battery density and cost, more charging infrastructure being built, and spiraling commitments from automakers. We must encourage car industries to advance their sustainable efforts and direct more research and development toward cleaner and safer operations. A new era of mining is here, and standing at the forefront. The move toward electric vehicles is making steady progress worldwide, and carmakers are predicting aggressive development targets for EV promotion. Here are some other facts and figures you might want to familiarize yourself with on the lithium explorations!

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Source 1: https://www2.deloitte.com/us/en/insights/focus/future-of-mobility/electric-vehicle-trends-2030.html
Source 2: https://www.investopedia.com/investing/lithium-mining-dirty-investment-or-sustainable-business/