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June 3, 2021

Tesla to invest $1bn on Australian-mined battery raw materials

According to government figures, Australia’s exports of hard rock lithium are expected to hit $773m (A$1bn) this year.

US carmaker Tesla has announced plans to annually invest more than $1bn on lithium, nickel and other metals mined in Australia for its batteries and vehicles.

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Tesla chairman Robyn Denholm said that already three-quarters of its lithium feedstock and more than a third of its nickel are sourced from the country.

Denholm further added that Australia was missing out on a valuable role in the supply chain across the globe.

The country is rich in minerals that are used for batteries such as lithium and nickel.

Due to the lack of a strong refining sector locally, large amounts of battery raw materials are typically shipped to faraway places for further processing and converted into products such as battery cells in China and other countries in Asia, The Sydney Morning Herald reported.

Reuters quoted Denholm as saying at a Minerals Council of Australia event: “Australian mining companies do have a good reputation, great expertise, professionalism and are preferred by manufacturers increasingly concerned about meeting both today’s and the future’s ESG requirements.”

Government figures have revealed that the country’s exports of hard rock lithium are expected to hit $773m (A$1bn) in 2021 while its nickel exports could be valued at $3bn (A$4bn).

In October 2020, Tesla said it was in talks with BHP Group regarding a nickel supply deal as part of its efforts to increase nickel production and avoid a supply crunch, Bloomberg reported citing people familiar with the matter.

Prior to this, Tesla carried out discussions with Canadian firm Giga Metals regarding the development of a large mine to get access to low-carbon nickel for its batteries.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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