John Lamb Mallee presentation, page-4

"it's very hard to see nickel not being in tremendous demand indefinitely."

Battery tech is developing quickly. Lithium-Iron-Phosphate is already starting to be the preferred battery chemistry for entry level EV's, and the 2 biggest producers will have commercial Sodium-ion batteries in cars by the end of the year, both of which have no nickel. Lithium-ion batteries (with plenty of nickel in them) will still keep a place in the short to medium term due to their higher energy density but a lot of work has been done on solid state batteries which will probably be nickel free (NASA's development solid state battery has no nickel). CATL has just announced a new "Condensed Battery" which has double the energy density of Lithium-Ion, not much is known about the chemistry but I would be surprised if it had any nickel in it.

Nickel will still be very much in demand for batteries for a while, but I think that will probably be for 10-15 years max. Hopefully we can re-list and extract maximum value in that time frame.