These were all required before the EV industry started using NMC / NCA / etc battery chemistry. So production was ramped up for EVs (Musk's tweet had something to do with that) but now EV battery chemistries are are 50% LFPs and others chems moving towards LMFPs - so plenty of spare capacity wrt nickel production.
China is slowing down, coupled with moving away from the West and Indonesia has ambitions to move up the manufacturing / processing chain in terms of battery minerals - not so dumb unlike AU, the she'll be right mate, don't worry about science / engineering is coming home to roost along with extremely poor policy.
https://hbr.org/2024/01/3-drivers-of-chinas-booming-electric-vehicle-market
These were all required before the EV industry started using NMC...
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