Gold rushed nickel ore prospectors are increasing the demand for nickel-iron batteries worldwide, and more and more companies will invest more money in the exploration of base metals.
Andrew Woskett, general manager of MinotaurExploration Exploration, said that nickel-centric companies will lock in the global lithium battery production growth. He also said that MinotaurExploration was originally a copper-based company, but with the changes in the basic metal market, the company will gradually increase the attention and development of nickel.
Woskett also said, "The nickel in lithium-ion batteries is actually more than lithium. With the increase of the global new energy vehicle market, the demand for nickel will be greatly improved."
MinotaurExploration has previously announced that it will develop a new electromagnetic exploration activity on the Saint Nickel-Cobalt project 65 km north of Kalgoorlie. The company's nickel ore production has surged 11% compared to the 2016-2017 annual production, an increase of 4,300 tons to 45,200 tons.
Earlier this month, the Australian Bureau of Statistics quarterly review of Australia's exploration expenditure showed that expenditure on nickel exploration activities in Western Australia had also tripled from 18 months earlier. The report also showed that expenditure on nickel exploration in the last quarter was $2,870, up from $9.2 million in June 2016.
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