With demand for electric vehicles growing exponentially through continuous supply chain deterioration, Nickel supply continues to be an imperative necessity for global electrification. Avante is situated to be a part of the supply solution with our Voisey’s West and Northwest Projects in Newfoundland, Canada.
“We are seeing a major boom in battery metals as the world continues to move towards electrification. Governments and major corporations are looking to secure the future of battery metal supply and major incentives are becoming commonplace.
We watched closely as the price of nickel was squeezed in March of 2022 on the LME, reaching over $100,000 per tonne. This major event coupled with the decrease in the future supply of Nickel, means the world needs this metal more than ever.
Located 50km from the Voisey’s Bay Nickel Mine, Avante’s Voisey’s West and Northwest projects are in active development in order to be a part of the supply solution that the global metal markets desperately need. With additional impending squeezes and continuously decreasing production, the demand for Nickel will only continue to grow as the world electrifies into the future.”
Battery production is consuming increasing volumes of nickel, which explains the tripling of the share of nickel consumed for battery production in 2020 compared to 2015. The consumption volume of nickel for battery production amounted to 450,000 metric tons in 2022.
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