BHP, the world’s biggest miner by market capitalisation, is also seeking to ride the battery boom by investing in its Nickel West Australia division — a subsidiary that faced closure until the growth in the electric vehicle market. It is also investing tens of millions of dollars in a nickel sulphate plant, with a goal to sell 90 per cent of the metal into the fast growing battery market by 2020, rather than the lower margin steel industry. “We want to go from digging rocks in the ground to making precursor on a scale that doesn’t exist anywhere on the planet,” says Eduard Haegel, president of BHP Nickel West.
CLQ Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
