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Getting out from under

Last year the US made moves to reduce the country’s reliance on China in the EV battery supply chain. The the Biden administration said it was  awarding $2.8 billion in grants to boost production of EV batteries and the minerals used to build them in the US.
“By undercutting US manufacturers with their unfair subsidies and trade practices, China seized a significant portion of the market,” Biden said.
ASX listed companies Syrah Resources (ASX:SYR), Novonix (ASX:NVX) and Piedmont Lithium (ASXLL), working to deliver downstream lithium and graphite materials for US-made EV batteries, all received grants under Biden’s initiative.

Ed Husic is facing the music

Following the US lead in February Federal Minister for Industry and Science Ed Husic formally launched consultations for Australia’s first National Battery Strategy.
He said developing the strategy will be integral to help Australia transition to a decarbonised economy, hit ambitious emissions targets, foster Australian innovation and support Australian industry.
“Our general approach should be one where if we mine it here, we should make it here,” Minister Husic said.
“Large scale uptake and manufacture of batteries will be vital transitioning to net-zero.
“New battery capacity will help support grid scale capacity, power our homes, and electrify our transport sector.”

Strong case for integrated battery economy in Australia

Ali Ukani, Sustainability & ESG Investments at PEAK Asset Management told * the case for creating an integrated battery economy in Australia is certainly growing stronger.
“On the one hand we know that the demand for Australia’s raw materials is on the rise, indicating stronger exports and growth in mining of battery materials,” Ali says.
“We’re seeing this happen in real-time, with a number of lithium, graphite and other battery metal projects commencing feasibility, funding and construction.
“On the other hand, it is becoming increasingly important to build downstream capabilities on-shore and reduce reliance on foreign counterparts.”

Cradle 2 the grave

Ukani said from an investment perspective the advantage of building downstream capabilities can be two-fold.  He said firstly, it reduces the chance of supply shocks, price sensitivity and third-party reliance.
“Moreover, it enables institutional investment in various companies and projects, in alignment with UNSDG’s and scope 2 and scope 3 emissions.
“In our view, building downstream capabilities will be vital in turning Australia into a producer and potentially an export powerhouse for batteries.”
“This requires a cradle to grave approach, including additional funding and focus on building more refining, processing and recycling infrastructure, as well as initiatives to close the loop to create a circular battery economy.”