Commodity producing and consuming giant China dominates other critical minerals including forms of refined cobalt, nickel and manganese as well as rare earths, a group of 17 elements used in products from lasers and military equipment to magnets found in electric vehicles, wind turbines, and consumer electronics such as iPhones.
"The battery controls a lot of the cost of a vehicle, so if carmakers outside of China are forced to use very expensive materials or can't access them,...that is going to ramp up their prices or force them to purchase the batteries from Chinese battery manufacturers," said Stefan Bernstein, CEO of GreenRoc Mining (GROC.L), owner of a graphite project in Greenland that is due to reach production in 2027.
Perhaps with hindsight SOR, via their Strategic Materials subsidiary, should have stayed with their focus on rare earth elements in New Zealand and Australia.
(20min delay)