Battery Metals Report 2021 - Everything you need to know about the battery metals lithium, nickel, cobalt, copper and vanadium! - Swiss Resource ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Battery Metals Report 2021
Everything you need to know about the battery metals
lithium, nickel, cobalt, copper and vanadium!
Disclaimer
Dear reader, mentioned in publications of Swiss Resource Capi- leveraged products should only be as high that, in vice contract or investment brokerage contract bet- source Capital AG nor the respective authors will vironmental permits or other project permits, chan-
tal AG involve risks which could lead to total a loss case of a possible total loss, the deposit will only ween Swiss Resource Capital AG or the respective guarantee that the expected profits or mentioned ges of foreign exchange rates, fluctuations of com-
Please read the complete disclaimer in the of the invested capital and – depending on the in- marginally lose in value. author and the subscriber of this publication. share prices will be achieved. Neither Swiss Re- modity prices, delays by project developments and
following pages carefully before you start rea- vestment – to further obligations for example addi- All publications of Swiss Resource Capital AG source Capital AG nor the respective authors are other factors.
ding this Swiss Resource Capital Publication. By tional payment liabilities. In general, purchase and are exclusively for information purposes only. All Investments in securities with low liquidity and professional investment or financial advisors. The
using this Swiss Resource Capital Publication sell orders should always be limited for your own information and data in all publications of Swiss Re- small market cap are extremely speculative as well reader should take advice (e. g. from the principle Potential shareholders and prospective investors
you agree that you have completely understood protection. source Capital AG are obtained from sources which as a high risk. Due to the speculative nature of the bank or a trusted advisor) before any investment should be aware that these statements are subject
the following disclaimer and you agree comple- are deemed reliable and trustworthy by Swiss Re- presented companies their securities or other finan- decision. To reduce risk investors should largely di- to known and unknown risks, uncertainties and
tely with this disclaimer. If at least one of these This applies especially to all second-line-stocks source Capital AG and the respective authors at the cial products it is quite possible that investments versify their investments. other factors that could cause actual events to dif-
point does not agree with you than reading and in the small and micro cap sector and especially to time of preparation. Swiss Resource Capital AG can lead to a capital reduction or to a total loss and fer materially from those indicated in the for-
use of this publication is not allowed. exploration and resource companies which are dis- and all Swiss Resource Capital AG employed or en- – depending on the investment – to further obliga- In addition, Swiss Resource Capital AG welco- ward-looking statements. Such factors include but
cussed in the publications of Swiss Resource Capi- gaged persons have worked for the preparation of tions for example additional payment liabilities. Any mes and supports the journalistic principles of con- are not limited to the following: risks regarding the
We point out the following: tal AG and are exclusively suitable for speculative all of the published contents with the greatest pos- investment in warrants, leveraged certificates or duct and recommendations of the German press inaccuracy of the mineral reserve and mineral re-
and risk aware investors. But it applies to all other sible diligence to guarantee that the used and un- other financial products bears an extremely high council for the economic and financial market re- source estimates, fluctuations of the gold price,
Swiss Resource Capital AG and the authors of securities as well. Every exchange participant tra- derlying data as well as facts are complete and ac- risk. Due to political, economical or other changes porting and within the scope of its responsibility will risks and dangers in connection with mineral explo-
the Swiss Resource Capital AG directly own des at his own risk. The information in the publica- curate and the used estimates and made forecasts significant stock price losses can arise and in the look out that these principles and recommenda- ration, development and mining, risks regarding the
and/or indirectly own shares of following Com- tions of Swiss Resource Capital AG do not replace are realistic. Therefore, liability is categorically worst case a total loss of the invested capital and tions are respected by employees, authors and edi- creditworthiness or the financial situation of the
panies which are described in this publication: an on individual needs geared professional invest- precluded for pecuniary losses which could poten- – depending on the investment – to further obliga- tors. supplier, the refineries and other parties that are
Canada Nickel, Ion Energy, Neolithium, Sierra ment advice. In spite of careful research, neither the tially result from use of the information for one’s tions for example additional payment liabilities. Any doing business with the company; the insufficient
Metals. respective author nor Swiss Resource Capital AG own investment decision. liability claim for foreign share recommendations, insurance coverage or the failure to receive insuran-
will neither guarantee nor assume liability for actua- derivatives and fund recommendations are in prin- Forward-looking Information ce coverage to cover these risks and dangers, the
Swiss Resource Capital AG has closed IR lity, correctness, mistakes, accuracy, complete- All information published in publications of Swiss ciple ruled out by Swiss Resource Capital AG and relationship with employees; relationships with and
consultant contracts with the following compa- ness, adequacy or quality of the presented informa- Resource Capital AG reflects the opinion of the res- the respective authors. Between the readers as well Information and statements in all publications of the demands from the local communities and the
nies which are mentioned in this publication: tion. For pecuniary losses resulting from invest- pective author or third parties at the time of repara- as the subscribers and the authors as well as Swiss Swiss Resource Capital AG especially in (transla- indigenous population; political risks; the availabili-
Canada Nickel. ments in securities for which information was tion of the publication. Neither Swiss Resource Ca- Resource Capital AG no consultancy agreement is ted) press releases that are not historical facts are ty and rising costs in connection with the mining
available in all publications of Swiss Resource Ca- pital AG nor the respective authors can be held res- closed by subscription of a publication of Swiss Re- forward-looking information within the meaning of contributions and workforce; the speculative nature
Swiss Resource Capital AG receives compen- pital AG liability will be assumed neither by Swiss ponsible for any resulting pecuniary losses. All source Capital AG because all information cont- applicable securities laws. They contain risks and of mineral exploration and development including
sation expenses from the following companies Capital Resource AG nor by the respective author information is subject to change. Swiss Resource ained in such a publication refer to the respective uncertainties but not limited to current expectations risks of receiving and maintaining the necessary
mentioned in this publication: Canada Nickel, neither explicitly nor implicitly. Capital AG as well as the respective authors assu- company but not to the investment decision. Publi- of the company concerned, the stock concerned or licences and permits, the decreasing quantities and
Ion Energy, Neolithium, Sierra Metals. res that only sources which are deemed reliable and cations of Swiss Resource Capital AG are neither, the respective security as well as intentions, plans grades of mineral reserves during mining; the global
Any investment in securities involves risks. Politi- trustworthy by Swiss Resource Capital AG and the direct or indirect an offer to buy or for the sale of the and opinions. Forward-looking information can of- financial situation, current results of the current ex-
Therefore, all mentioned companies are cal, economical or other changes can lead to signi- respective authors at the time of preparation are discussed security (securities), nor an invitation for ten contain words like “expect”, “believe”, “assu- ploration activities, changes in the final results of
sponsors of this publication. ficant stock price losses and in the worst case to a used. Although the assessments and statements in the purchase or sale of securities in general. An in- me”, “goal”, “plan”, “objective”, “intent”, “estima- the economic assessments and changes of the pro-
total loss of the invested capital and – depending all publications of Swiss Resource Capital AG were vestment decision regarding any security should te”, “can”, “should”, “may” and “will” or the negati- ject parameter to include unexpected economic
on the investment – to further obligations for ex- prepared with due diligence, neither Swiss Resour- not be based on any publication of Swiss Resource ve forms of these expressions or similar words factors and other factors, risks of increased capital
Risk Disclosure and Liability ample additional payment liabilities. Especially in- ce Capital AG nor the respective authors take any Capital AG. suggesting future events or expectations, ideas, and operating costs, environmental, security and
vestments in (foreign) second-line-stocks, in the responsibility or liability for the actuality, correct- plans, objectives, intentions or statements of future authority risks, expropriation, the tenure of the
Swiss Resource Capital AG is not a securities small and micro cap sector, and especially in the ness, mistakes, accuracy, completeness, adequacy Publications of Swiss Resource Capital AG must events or performances. Examples for forward-loo- company to properties including their ownership,
service provider according to WpHG (Germany) and exploration and resource companies are all, in ge- or quality of the presented facts or for omissions or not, either in whole or in part be used as a base for king information in all publications of Swiss Resour- increase in competition in the mining industry for
BörseG (Austria) as well as Art. 620 to 771 obliga- neral, associated with an outstandingly high risk. incorrect information. The same shall apply for all a binding contract of all kinds or used as reliable in ce Capital AG include: production guidelines, esti- properties, equipment, qualified personal and its
tions law (Switzerland) and is not a finance compa- This market segment is characterized by a high vo- presentations, numbers, designs and assessments such a context. Swiss Resource Capital AG is not mates of future/targeted production rates as well as costs, risks regarding the uncertainty of the timing
ny according to § 1 Abs. 3 Nr. 6 KWG. All publica- latility and harbours danger of a total loss of the in- expressed in interviews and videos. responsible for consequences especially losses, plans and timing regarding further exploration, drill of events including the increase of the targeted pro-
tions of the Swiss Resource Capital AG are explicit- vested capital and – depending on the investment which arise or could arise by the use or the failure of and development activities. This forward-looking duction rates and fluctuations in foreign exchange
ly (including all the publications published on the – to further obligations for example additional pay- Swiss Resource Capital AG and the respective the application of the views and conclusions in the information is based in part on assumption and fac- rates. The shareholders are cautioned not to place
website http://www.resource-capital.ch and all ment liabilities. As well, small and micro caps are authors are not obliged to update information in pu- publications. Swiss Resource Capital AG and the tors that can change or turn out to be incorrect and undue reliance on forward-looking information. By
sub-websites (like http://www.resource-capital.ch/ often very illiquid and every order should be strictly blications. Swiss Resource Capital AG and the res- respective authors do not guarantee that the ex- therefore may cause actual results, performances its nature, forward-looking information involves nu-
de) and the website http://www.resource-capital.ch limited and, due to an often better pricing at the re- pective authors explicitly point out that changes in pected profits or mentioned share prices will be or successes to differ materially from those stated merous assumptions, inherent risks and uncertain-
itself and its sub-websites) neither financial analysis spective domestic exchange, should be traded the- the used and underlying data, facts, as well as in achieved. or postulated in such forward-looking statements. ties both general and specific that contribute to the
nor are they equal to a professional financial analy- re. An investment in securities with low liquidity and the estimates could have an impact on the forecas- Such factors and assumption include but are not possibility that the predictions, forecasts, projec-
sis. Instead, all publications of Swiss Resource Ca- small market cap is extremely speculative as well as ted share price development or the overall estimate The reader is strongly encouraged to examine all limited to: failure of preparation of resource and re- tions and various future events will not occur. Neit-
pital AG are exclusively for information purposes a high risk and can lead to, in the worst case, a total of the discussed security. The statements and opi- assertions him/herself. An investment, presented serve estimates, grade, ore recovery that differs her Swiss Resource Capital AG nor the referred to
only and are expressively not trading recommenda- loss of the invested capital and – depending on the nions of Swiss Capital Resource AG as well as the by Swiss Resource Capital AG and the respective from the estimates, the success of future explorati- company, referred to stock or referred to security
tions regarding the buying or selling of securities. investment – to further obligations for example ad- respective author are not recommendations to buy authors in partly very speculative shares and finan- on and drill programs, the reliability of the drill, undertake no obligation to update publicly other-
All publications of Swiss Resource Capital AG re- ditional payment liabilities. Engagements in the pu- or sell a security. cial products should not be made without reading sample and analytical data, the assumptions regar- wise revise any forward-looking information
present only the opinion of the respective author. blications of the shares and products presented in the most current balance sheets as well as assets ding the accuracy of the representativeness of the whether as a result of new information, future
They are neither explicitly nor implicitly to be under- all publications of Swiss Resource Capital AG have Neither by subscription nor by use of any publi- and liabilities reports of the companies at the Secu- mineralization, the success of the planned metallur- events or other such factors which affect this infor-
stood as guarantee of a particular price develop- in part foreign exchange risks. The deposit portion cation of Swiss Resource Capital AG or by expres- rities and Exchange Commission (SEC) under www. gical test work, the significant deviation of capital mation, except as required by law.
ment of the mentioned financial instruments or as a of single shares of small and micro cap companies sed recommendations or reproduced opinions in sec.gov or other regulatory authorities or carrying and operating costs from the estimates, failure to
trading invitation. Every investment in securities and low capitalized securities like derivatives and such a publication will result in an investment ad- out other company evaluations. Neither Swiss Re- receive necessary government approval and en-
2 3
48f Abs. 5 BörseG (Austria) and Art. 620 to 771 Exploitation and distribution rights respective authors can guarantee the correctness, Information from the Federal Financial Super- use of the contents of website http://www.resour- disclosure of these data or by entry of anonymized
obligations law (Switzerland) accuracy and completeness of the facts presented visory Authority (BaFin) ce-capital.ch and its sub-websites is at the user’s data or pseudonyms. Swiss Resource Capital AG
Publications of Swiss Resource Capital AG may in the sources. Neither Swiss Resource Capital AG risk. Specially marked articles reflect the opinion of points out that the data transmission in the internet
Swiss Resource Capital AG as well as the res- neither directly or indirectly be transmitted to Great nor the respective authors will guarantee or be liab- You can find further information on how to pro- the respective author but not always the opinion of (e.g. communication by email) can have security
pective authors of all publications of Swiss Resour- Britain, Japan, USA or Canada or to an US citizen le for that all assumed share price and profit de- tect yourself against dubious offers in BaFin bro- Swiss Resource Capital AG. breaches. A complete data protection from unau-
ce Capital AG could have been hired and compen- or a person with place of residence in the USA, Ja- velopments of the respective companies and finan- chures directly on the website of the authority at thorized third party access is not possible. Accor-
sated by the respective company or related third pan, Canada or Great Britain nor brought or distri- cial products respectively in all publications of www.bafin.de. dingly no liability is assumed for the unintentional
party for the preparation, the electronic distribution buted in their territory. The publications and their Swiss Resource Capital AG will be achieved. Liability limitation for availability of website transmission of data. The use of contact data like
and publication of the respective publication and contained information can only be distributed or postal addresses, telephone and fax numbers as
for other services. Therefore the possibility exists published in such states where it is legal by applica- Liability limitation for links Swiss Resource Capital AG will endeavour to of- well as email addresses published in the imprint or
for a conflict of interests. ble law. US citizens are subject to regulation S of No guarantee for share price data fer the service as uninterrupted as possible. Even similar information by third parties for transmission
the U.S. Securities Act of 1933 and cannot have The www.resource-capital.ch – website and all with due care downtimes can not be excluded. of not explicitly requested information is not permit-
At any time Swiss Resource Capital AG as well access. In Great Britain the publications can only be No guarantee is given for the accuracy of charts sub-websites and the www.resource-capital.ch – Swiss Resource Capital AG reserves the right to ch- ted. Legal action against the senders of spam mails
as the respective authors of all publications of accessible to a person who in terms of the Financial and data to the commodity, currency and stock newsletter and all publications of Swiss Resource ange or discontinue its service any time. are expressly reserved by infringement of this prohi-
Swiss Resource Capital AG could hold long and Services Act 1986 is authorized or exempt. If these markets presented in all publications of Swiss Re- Capital AG contain links to websites of third parties bition.
short positions in the described securities and op- restrictions are not respected this can be perceived source Capital AG. (“external links”). These websites are subject to lia-
tions, futures and other derivatives based on theses as a violation against the respective state laws of bility of the respective operator. Swiss Resource Liability limitation for advertisements By registering in http://www.resource-capital.ch
securities. Furthermore Swiss Resource Capital AG the mentioned countries and possibly of non menti- Capital AG has reviewed the foreign contents at the – website and its sub-websites or in the http://www.
as well as the respective authors of all publications oned countries. Possible resulting legal and liability Copyright initial linking with the external links if any statutory The respective author and the advertiser are resource-capital.ch – newsletter you give us per-
of Swiss Resource Capital AG reserve the right to claims shall be incumbent upon that person, but not violations were present. At that time no statutory exclusively responsible for the content of advertise- mission to contact you by email. Swiss Resource
buy or sell at any time presented securities and op- Swiss Resource Capital, who has published the pu- The copyrights of the single articles are with the violations were evident. Swiss Resource capital AG ments in http://www.resource-capital.ch – website Capital AG receives and stores automatically via
tions, futures and other derivatives based on theses blications of Swiss Resource Capital AG in the respective author. Reprint and/or commercial dis- has no influence on the current and future design and its sub-websites or in the http://www.resour- server logs information from your browser including
securities. Therefore the possibility exists for a con- mentioned countries and regions or has made avai- semination and the entry in commercial databases and the contents of the linked websites. The place- ce-capital.ch – newsletter as well as in all publica- cookie information, IP address and the accessed
flict of interests. lable the publications of Swiss Resource Capital AG is only permitted with the explicit approval of the ment of external links does not mean that Swiss tions of Swiss Resource Capital AG and also for the websites. Reading and accepting our terms of use
to persons from these countries and regions. respective author or Swiss Resource Capital AG. Resource Capital AG takes ownership of the cont- content of the advertised website and the adverti- and privacy statement are a prerequisite for permis-
Single statements to financial instruments made ents behind the reference or the link. A constant sed products and services. The presentation of the sion to read, use and interact with our website(s).
by publications of Swiss Resource Capital AG and The use of any publication of Swiss Resource All contents published by Swiss Resource Capi- control of these links is not reasonable for Swiss advertisement does not constitute the acceptance
the respective authors within the scope of the res- Capital AG is intended for private use only. Swiss tal AG or under http://www.resource-capital.ch – Resource Capital AG without concrete indication of by Swiss Resource Capital AG.
pective offered charts are not trading recommenda- Resource Capital AG shall be notified in advance or website and relevant sub-websites or within www. statutory violations. In case of known statutory vio-
tions and are not equivalent to a financial analysis. asked for permission if the publications will be used resource-capital.ch – newsletters and by Swiss Re- lations such links will be immediately deleted from
professionally which will be charged. source Capital AG in other media (e.g. Twitter, Face- the websites of Swiss Resource Capital AG. If you No contractual relationship
A disclosure of the security holdings of Swiss All information from third parties especially the book, RSS-Feed) are subject to German, Austrian encounter a website of which the content violates
Resource Capital AG as well as the respective au- estimates provided by external user does not reflect and Swiss copyright and ancillary copyright. Any applicable law (in any manner) or the content (to- Use of the website http://www.resource-capital.
thors and/or compensations of Swiss Resource Ca- the opinion of Swiss Resource Capital AG. Conse- use which is not approved by German, Austrian and pics) insults or discriminates individuals or groups ch and its sub-websites and http://www.resour-
pital AG as well as the respective authors by the quently, Swiss Resource Capital AG does not gua- Swiss copyright and ancillary copyright needs first of individuals, please contact us immediately. ce-capital.ch – newsletter as well as in all publica-
company or third parties related to the respective rantee the actuality, correctness, mistakes, ac- the written consent of the provider or the respective tions of Swiss Resource Capital AG no contractual
publication will be properly declared in the publica- curacy, completeness, adequacy or quality of the rights owner. This applies especially for reproducti- In its judgement of May 12th, 1998 the Landge- relationship is entered between the user and Swiss
tion or in the appendix. information. on, processing, translation, saving, processing and richt (district court) Hamburg has ruled that by pla- Resource Capital AG. In this respect there are no
reproduction of contents in databases or other cing a link one is responsible for the contents of the contractual or quasi-contractual claims against
The share prices of the discussed financial inst- electronic media or systems. Contents and rights of linked websites. This can only be prevented by ex- Swiss Resource Capital AG.
ruments in the respective publications are, if not Note to symmetrical information and opinion third parties are marked as such. The unauthorised plicit dissociation of this content. For all links on the
clarified, the closing prices of the preceding trading generation reproduction or dissemination of single contents homepage http://www.resource-capital.ch and its
day or more recent prices before the respective pu- and complete pages is not permitted and punisha- sub-websites and in all publications of Swiss Re- Protection of personal data
blication. Swiss Resource Capital AG can not rule out that ble. Only copies and downloads for personal, priva- source Capital AG applies: Swiss Resource Capital
other market letters, media or research companies te and non commercial use is permitted. AG is dissociating itself explicitly from all contents The personalized data (e.g. mail address of con-
It cannot be ruled out that the interviews and are discussing concurrently the shares, companies of all linked websites on http://www.resource-capi- tact) will only be used by Swiss Resource Capital
estimates published in all publications of Swiss Re- and financial products which are presented in all Links to the website of the provider are always tal.ch – website and its sub-websites and in the AG or from the respective company for news and
source Capital AG were commissioned and paid for publications of Swiss Resource Capital AG. This welcome and don’t need the approval from the http://www.resource-capital.ch – newsletter as well information transmission in general or used for the
by the respective company or related third parties. can lead to symmetrical information and opinion website provider. The presentation of this website in as all publications of Swiss Resource Capital AG respective company.
Swiss Resource Capital AG as well as the respecti- generation during that time period. external frames is permitted with authorization only. and will not take ownership of these contents.”
ve authors are receiving from the discussed compa- In case of an infringement regarding copyrights
nies and related third parties directly or indirectly Swiss Resource Capital AG will initiate criminal pro- Data protection
expense allowances for the preparation and the No guarantee for share price forecasts cedure. Liability limitation for contents of this website
electronic distribution of the publication as well as If within the internet there exists the possibility
for other services. In all critical diligence regarding the compilation The contents of the website http://www.resour- for entry of personal or business data (email ad-
and review of the sources used by Swiss Resource ce-capital.ch and its sub-websites are compiled dresses, names, addresses), this data will be di-
Capital AG like SEC Filings, official company news with utmost diligence. Swiss Resource Capital AG sclosed only if the user explicitly volunteers. The
or interview statements of the respective manage- however does not guarantee the accuracy, comple- use and payment for all offered services is permit-
ment neither Swiss Resource Capital AG nor the teness and actuality of the provided contents. The ted – if technical possible and reasonable – without
4 5
Table of Contents Imprint
Disclaimer 02 Editor
Invest with the commodity professionals
Swiss Resource Capital AG
Table of Contents | Imprint 07 Poststr. 1
9100 Herisau, Schweiz
Preface09 Tel : +41 71 354 8501
Fax : +41 71 560 4271
The electrical revolution is unstoppable! – info@resource-capital.ch
A story of „weirdoes“, bottlenecks and the „new gold“ 10 www.resource-capital.ch
Interview with Tobias Tretter – Editorial staff
Manager of the Structured Solutions Next Generation Resources Fund��������� 31 Jochen Staiger
Tim Rödel
Layout/Design
Company Profiles Frauke Deutsch
You do not have to be a stock market professional SRC Mining & Special Situations Zertifikat All rights reserved. Reprinting
Canada Nickel������������������������������������������������������������������������������������������������������������������������������ 34 material by copying in electronic
to make wise investment decisions. ISIN: DE000LS9PQA9
form is not permitted.
Invest together with Swiss Resource Capital AG and WKN: LS9PQA IonEnergy���������������������������������������������������������������������������������������������������������������������������������������� 38
Asset Management Switzerland AG in the mega Currency: CHF/ Euro* Editorial Deadline 10/31/2020
NeoLithium������������������������������������������������������������������������������������������������������������������������������������� 42 Cover: Olivier Le Moal l adobestock.com
trend commodities. Since 05.03.2020 the experts‘ Certificate fee: 0.95 % p.a.
Page 12: ©ser_igor/stock.adobe.com
specialist knowledge has been available as a Performance fee: 15 % p.a. Sierra Metals����������������������������������������������������������������������������������������������������������������������������������46 Page 31: shutterstock©andyparker72
Wikifolio certificate: *Trading in Euro is possible at the Euwax in Stuttgart. Back:
# 1: ssarwas0, Pixabay
# 2: TravelCoffeeBook, Pixabay
# 3: andreas160578, Pixabay
Currently the following titles are represented in the SRC Mining & Special Situations Certificate (4/2020): FRANCO NEVADA | BHP BILLI # 4: Hookyung Lee, Pixabay
TON | R.DUTCH SHELL B | MAG SILVER CORP. | ENDEAVOUR SILVER | AGNICO EAGLE | RIO TINTO | TOTAL FINA ELF SA B EO 10 | CALEDONIA
All images and graphics are, unless
MINING O.N. | FREE MCMORAN COP | ANGLO AMERICAN | URANIUM ENERGY CORP. | DYNACERT INC. | OSISKO GOLD ROYALTIES LTD | otherwise stated, by the companies.
SIBANYE STILLWATER LTD | CHEVRON | FIORE GOLD LTD | URANIUM PARTICIPATION CORP. | MAPLE GOLD MINES LTD | ROYAL NICKEL CORP. |
Charts 11/30/2020
NEWMONT CORP. DL 1,60 | BLUESTONE RESOURCES | AURYN RESOURCES INC. | BARRICK GOLD
CORP. | GOLDMINING INC. | COPPER MOUNTAIN MINING CORP. | MILLENIAL LITHIUM CORP. |
ISOENERGY LTD. O.N. | SKEENA RES LTD NEW | AURANIA RES CAD R.S. | ENWAVE.
6 7
Commodity-TV Preface
The whole world of commodities
in one App!
Dear Readers,
It is with pride and pleasure that we enter the 30,000 charging points are to be added by
sixth year of publication of our Battery Metals 2030. That means millions of tons of copper
Report. which are not only needed for cars but espe-
cially for the charging infrastructure. 2020
Our special report series started with lithium, should not only be the beginning of a new
as we see this metal, along with cobalt, ni- decade, but it looks like a decade for raw ma-
ckel, copper and vanadium, as one of the gre- terials, as these are – and will remain – the
at energy future metals and as a great oppor- basis of our economic activities. Supply will
tunity with great potential. E-mobility is on the barely keep pace with the demand that will
advance and since 2020, the eagerly awaited set in once the corona virus is overcome. Jochen Staiger is founder and CEO
new models of German manufacturers but of Swiss Resource Capital AG,
also of international volume manufacturers Swiss Resource Capital AG has set itself the located in Herisau, Switzerland. As
are finally coming onto the market. In additi- task of providing up-to-date and comprehen- chief-editor and founder of the first
on, there are hybrid versions that have batte- sive information on a wide range of commodi- two resource IP-TV-channels
ries on board in addition to the combustion ties and mining companies to commodity in- Commodity-TV and its German
engine. The ranges are increasing and with vestors, interested parties and those who counterpart Rohstoff-TV, he reports
them the acceptance of the end customers, would like to become such. On our website about companies, experts, fund
i.e. the car buyers. Volkswagen alone is plan- www.resource-capital.ch you will find more managers and various themes
ning around 70 models by 2030 in the e-sec- than 20 companies and a lot of information around the international mining
tor, as are Mercedes, Audi and BMW. The and articles about raw materials. business and the correspondent
electric car is now established and has won a metals.
place among consumers. At the end of 2019, With our special reports we would like to give
Download there were over 8 million electric cars on the you the necessary insights and provide you
road worldwide. By the end of 2020, we with comprehensive information. In addition,
our unique App should be able to break the 10 million mark our two raw material IPTV channels www.
for free! despite corona. Lithium, nickel and cobalt are Commodity-TV.net & www.Rohstoff-TV.net
the main components of all batteries and ac- are available to you free of charge at any time.
cumulators available in large series and are When you are on the go, we recommend our
therefore the main link in the electric car dre- new Commodity TV App for iPhone and And-
am. Interesting are the movements in Germa- roid, which provides you with real-time charts,
ny, where Tesla is building a factory (Gigafac- quotes and also the latest videos.
tory).
Even though many do-gooders have taken up My team and I hope you enjoy reading the
arms against the car, an automobile is still in- Battery Metals Special Report and we hope
dispensable for commuters, commercial tra- to provide you with a lot of new information,
velers and people who are active in business; impressions and ideas.
Watch Management & Expert Interviews, Site-Visit-Videos, News Shows
not to mention personal freedom. 2020 is the Tim Rödel is Manager Newsletter,
and receive top and up to date Mining Information on your mobile device year of the breakthrough for e-mobiles on a Threads & Special Reports at SRC
grand scale worldwide, as all major manufac- Yours, Jochen Staiger
worldwide! AG. He has been active in the
turers - especially the Germans - are laun- commodities sector for more than
ching massive new e-models on the market. 15 years and accompanied
Away from the concept car and the study to
Amazing features: several chief-editor positions, e.g. at
mass production and day-to-day e-cars. All Rohstoff-Spiegel, Rohstoff-Woche,
• Company Facts these will be enormous drivers of the demand Rohstoffraketen, the publications
for lithium, cobalt, nickel and vanadium, but
• Global Mining News Wahrer Wohlstand and First Mover.
above all for copper. In general, copper is cur- He owns an enormous commodity
• Push Notofications rently being played as a recession barometer expertise and a wide-spread
on the futures exchanges. However, accor-
• Commodity-TV, Rohstoff-TV and Dukascopy-TV network within the whole resource
ding to the German government, another sector.
• Live Charts
9
Swiss Resource Capital AG | Poststrasse 1 | 9100 Herisau | Schweiz | www.resource-capital.ch
The electrical revolution is unstoppable! –
A story of „weirdoes“, bottlenecks and the „new gold“
Elon Musk‘s obsession is unstop- tion in mobility has begun, but the electric be allowed, likewise completely locally quickly. The following company targets from
pable – but who invented it? boom will now really take off, and not only in emission-free school buses from 2028, early 2020 are likely to have to be revised
automobile manufacturing. After more than and from 2035 all delivery traffic in the relatively quickly:
Who would have thought in the year 2000 100 years of the combustion engine, the city must be emission-free.
that in no less than 36 months, a „weirdo“ next stage of development is finally taking Mexico: 30% electric vehicles sold by BMW: By 2025, 15 to 25% of all vehicles
from South Africa would emerge and turn the off, and it is called electric mobility and elec- 2030 produced are to be powered purely elec-
entire automotive industry upside down wit- tric storage. Brazil: 30% electric vehicles sold by trically, which means a total of about
hin 20 years? Elon Musk, the eccentric South 2030 300,000 to 600,000 vehicles;
African, who as a child had been bullied and Great Britain: End of sale of burners by The now more than 170 Chinese car ma-
beaten to unconsciousness because of his ... and electric mobility in particu- 2030 nufacturers want to put at least 4.5 milli-
fancy ideas and who first made headlines by lar is picking up speed! Scotland: End of sale of burners by 2032 on electric vehicles on the road from this
inventing and selling the payment system France: End of sale of burners by 2040 year onwards;
PayPal to eBay, had the vision of a purely Paris: Diesel ban until 2024, gasoline ban Daimler: Ten new electric models by
electric locomotion at the beginning of the The automotive industry is clearly playing a until 2030 2022. 15 to 25% of all vehicles produced
21st century and then, together with some pioneering role in this respect, because Spain: End of sale of burners by 2040 are to be powered purely by electricity by
other „weirdoes“, founded Tesla Motors on many countries have jumped on the electric Mallorca: End of sale of burners by 2035 2025, which means a total of about
July 1, 2003. He was supposed to trigger a mobility bandwagon, especially in order to Ireland: End of sale of burners by 2030 300,000 to 600,000 vehicles;
revolution like there has rarely been a similar achieve the climate targets they have set Denmark: End of sale of burners by 2030 Ford: By 2022, at least 13 models are to
one in the history of mankind. Within a very themselves, and have introduced measures Norway: End of sale of burners by 2025 be powered electrically, which is about
short period of time, „weirdoes“ became vi- that will further accelerate the move away Netherlands: End of sale of burners by 10 to 25% of the complete model range;
sionaries and Musk became the second ri- from the combustion engine and the simulta- 2035 General Motors: 20 new electric models
chest person on the globe. He is one of the neous shift to the electric motor. Amsterdam: Ban of all burners by 2030 by 2023 and complete conversion to
very few who changed or will change the Sweden: End of sales of burners by 2035 electromobility - period still open;
world with their ideas. The following states, provinces and individu- Slovenia: End of sale of burners by 2030 Honda: In 2030, two thirds of all models
But he was „only“ the one who gave the im- al cities have already formulated concrete Germany: End of sale of burners by 2050 are to run on electric motors - around 3.3
petus for the revolution of locomotion; the goals: Bavaria: End of sale of burners by 2035 million today;
actual idea of locomotion by means of an Italy: 30% electric vehicles sold by 2030 Hyundai: At least 10% electric vehicle
electric motor had already been put forward Canada: End of sales of burners by 2050 EU: 30% electric vehicles sold by 2030 share by 2025 - 800,000 vehicles;
by some before him. - the province of Quebec wants to en- Israel: End of sale of burners by 2030 Peugeot: 80% conversion to electric dri-
Because even before 1840, Scottish inven- force this already by 2035, British Colum- Egypt: End of sale of burners by 2040 ve by 2023;
tor Robert Anderson developed the first bia by 2040 India: End of sale of burners by 2030 Porsche: conversion of 90% of the pro-
electric vehicle. The first known German USA: 9 states want to enforce an end to Japan: 30% electric vehicles sold by duct range to electric drives;
electric car was built in 1888 by Maschinen- the sale of burners between 2030 and 2030 Renault/Nissan: 1.5 million vehicles
fabrik A. Flocken in Coburg, Franconia. Al- 2050, including the New England states South Korea: 30% electric vehicles sold from 2021;
though electric vehicles were considered of Connecticut, New Hampshire, Maine, by 2030 Tesla: 1 million vehicles from 2020;
superior at the time, vehicles with combusti- Massachusetts, Rhode Island and Ver- Singapore: End of sale of burners by Toyota: 50% conversion to electric drive
on engines initially prevailed. From 1910 on, mont as well as New York, California and 2040 and hybrid by 2030 ;
driven by the strong oil industry, they were Oregon. Sri Lanka: End of sale of burners by 2040 Volvo: 100% conversion to electric and
considered a cheaper alternative and even- With the exception of security vehicles, China: 20% electric vehicles sold by hybrid drive by 2022 (500,000 vehicles);
tually prevailed. California already no longer orders go- 2025 + end of sales of combustion engi- VW Group: By 2025, 20 to 25% of all ve-
vernment vehicles with classic combusti- nes by 2050 hicles produced are to be powered pu-
on engines. Hainan: End of sale of burners by 2030 rely electrically, which means a total of
The „electro-revolution“ San Francisco is aiming for completely about 2 to 3 million vehicles. By 2030,
prevails ... emission-free traffic by the year 2040. By 300 electric models are to be brought
2025, half of all new passenger car regis- Car manufacturers plan to build onto the market.
But electric locomotion is only one of several trations should be accounted for by elec- many millions of electric vehicles
aspects of the electrical revolution. The leap tric cars. From 2030 onwards, only ve- Overall, the leading car manufacturers
from the age of fossil combustion and the hicles with electric drives are to be newly In the EU in particular, the planned Euro 7 planned to produce over 20 million electric
most immediate consumption possible to registered. standard is likely to bring about the end of vehicles per year from 2025 alone. This
the decentralization of energy production, As early as 2025, 25 percent of the cars in many combustion engines very quickly and should now be noticeably faster.
the corresponding need to store electrical Los Angeles are to be purely electric, the corresponding car manufacturers will
energy on site and, ultimately, a true revolu- from 2028 only purely electric cabs will have to switch to electric vehicles more
10 11
... but the development continues
steadily!
Composition and operating principle of a lithium-ion accumulator
Although not much has changed in the basic
principle of the lithium-ion battery over time,
the development continues. Efficiency and Composition of a lithium-ion accumulator
charging capacity (often referred to as range
in electric vehicles) are at the center of atten- Essentially a lithium-ion accumulator consists of the following components and materials:
tion, but also the use of metals and ele-
ments. To this end, there is currently a trans- LITHIUM-ION BATTERY
formation away from high percentages of Positive electrode (cathode): CHARGE
cobalt (NMC 111, where the numbers indica- Lithium-Cobalt(III)-oxide ELECTROLYTE
SEPARATOR
te the ratio of nickel, manganese and cobalt) Lithium-Nickel-Manganese-Cobalt-Oxide ANODE (-)
to a higher percentage of nickel (NMC 811), Oxygen COPPER
CATHODE (+)
although development is still at an interme- Aluminum as conductor material ALUMINIUM
Battery growth in the coming years diate stage (NMC 622 / NMC 532). NMC 111
(Source: own presentation) is considered the simplest battery version Negative electrode (anode):
There is currently no way around based on an equal amount of the atoms of Graphite or related carbon materials
the lithium-ion battery ... the three elements, NMC 532/622 have a Silicon
higher energy density and a lower price than Tin dioxide
In addition to the motor, the heart of every NMC 111 due to a lower cobalt content and Copper as conductor material
electric vehicle is the energy storage unit, i.e. NMC 811 is the latest and most advanced CARBON
a rechargeable battery (in short: battery). In battery version with the highest theoretical Electrolyte (solution) (GRAPHITE)
order to be operated economically in the lithium and cobalt performance. It was preci- LITHIUMION
long term, electric vehicles, but also increa- sely because of this trend towards higher Polymer membrane separator OXYGEN + METAL
singly decentralized storage systems - for nickel content that Elon Musk called Nickel ELECTRON COBALT/NICKEL/MANGANESE
example for photovoltaic or wind power the „New Gold“ in mid-2020 and literally
plants - require ever more powerful batte- begged mining companies to develop new
ries. The lithium-ion battery has now emer- nickel mines.
ged as the clear favorite. One reason for this Functionality of a lithium-ion battery
is that within a lithium-ion battery the voltage
is achieved by exchanging lithium ions. In simple terms a lithium-ion accumula- largely electrically neutral. The negative
Because of their high energy density, lithi- Decentralized storage tor generates an electromotive force by electrode is a so-called graphite inter-
um-ion batteries deliver constant perfor-
mance over the entire discharge period and
will clearly the movement of lithium-ions. During
charging the positive lithium-ions migra-
calation compound where lithium exists
as cation. During discharge the intercala-
do not exhibit a so-called memory effect, i.e. dominate the market in te through the electrolyte and the sepa- tion compound emits electrons which
a successive loss of capacity over many ye- the future rator from the positive to the negative flow back to the positive electrode viathe
ars of use or frequent partial discharge. The electrode. In the process the lithium-ions extern circuit. Simultaneously many
name „lithium-ion battery“ is only the gene- Vanadium redox batteries are bet- can move freely between the two elec- Li+ ions migrate from the intercalation
ric term for a whole range of possible chemi- ter suited for use in the field of trodes through the electrolyte within the compound through the electrolyte also
cal structures, such as the lithium-cobalt renewable energies accumulator. Unlike the lithium-ions the to the positive electrode. At the positive
(dioxide) battery, the lithium-manganese (di- transition metal and graphite structures electrode the lithium-ions do not receive
oxide) battery, the lithium-iron-phosphate The use of lithium, cobalt and nickel in lithi- of the electrodes are stationary and pro- the electrons of the external circuit but
battery and - less commonly used - the lithi- um-ion batteries and accumulators of the tected by a separator from a direct con- the present structures of the transition
um-titanate battery and the tin-sulfur-lithi- same name in automotive engineering is one tact. The mobility of the lithium-ions is metal compounds. Depending on the
um-ion battery. The most common battery is side of the coin. Correspondingly larger necessary for the compensation of the type of accumulator these are cobalt, ni-
currently the lithium-nickel-manganese-co- energy storage units are increasingly being external current during recharging and ckel, manganese or iron ions that change
balt (NMC) battery. used to store electricity from alternative discharging so that the electrodes stay their charge.
energy sources. The virtually explosive ex-
pansion of energy generation from wind
12 13
farms or by means of solar cells is a huge largest battery in the world is also to become
step forward in terms of environmental pro- a vanadium redox flow battery. This is to
tection, but it is an enormous challenge for have a capacity of 200 megawatts in
the power grids. This is because renewable northeast China and be able to store 800
energy sources often exhibit extreme fluctu- MWh of energy.
ations in power generation. When the wind For powerful electric cars, however, the va-
blows or the sun shines, large quantities of nadium redox accumulator is not an option,
Electricity is „pumped“ into the power grid. because the volumetric energy density of the
In the short term, this creates enormous battery is much too low, i.e. the battery
overcapacities of electricity, some of which needs too much space.
are not needed at all. According to calcula-
tions, up to 20 percent of the annual yield of
a wind farm is already lost today because The largest future application
the turbines have to be shut down at short area for vanadium redox batte-
notice due to grid overload. This can be re- ries: decentralized energy storage
medied by storage facilities that initially ab-
sorb the excess energy and later release it So-called smart grid systems require a large (Source: own presentation)
back into the grid when needed, i.e. when number of short- and medium-term energy
there is a threat of undersupply. The vanadi- storage devices that can absorb too much
um redox accumulator in particular plays a generated energy and later, when there is no
decisive role here. wind or sun, release it back into the grid. Va-
nadium redox batteries can clearly provide a
remedy here by temporarily storing the
Vanadium redox battery - higher over-generated energy and only releasing it is a photovoltaic factory located in Buffalo, step ahead, already operates a plant in Sax-
operational reliability than the back into the grid when needed. Many ma- New York. The „Gigafactory 3“ was comple- ony and wants to invest 20 billion euros in a
lithium-ion battery, but not suita- nufacturers are already trying out efficient ted in record time in China, near Shanghai, battery cell production network by 2030. The
ble for electric vehicles vanadium redox batteries, which are to be and will produce the same number of ve- partners are mainly from Asia. The EU has
used primarily on a decentralized basis, i.e. hicles as the plant in Nevada. made a total of 3.2 billion euros available for
The vanadium redox accumulator is a so-cal- directly in the household of a family with a the construction of two Gigafactories. Great
led flux accumulator, which uses vanadium photovoltaic system on the roof or near wind Britain plans to provide 15 GWh within two
compounds in aqueous solutions in both farms. ... the EU is steadily catching up ... years. In addition, corresponding production
electrolytes. Vanadium redox flow cells offer facilities are also planned or under construc-
a very high operational safety compared to In Germany, Tesla, is building another Giga tion in Hungary and Poland.
other storage systems (especially the lithi- factory near Berlin. But CATL, Farasis,
um-ion accumulators) because the electroly- Asians dominate the Northvolt and Volkswagen will also rely on
te is neither flammable nor explosive due to
its high water content. The currently availab-
battery sector battery production Made in Germany in the
future. The furthest away is currently the
... but the music is made in Asia!
le commercial batteries are used exclusively Swedish company Northvolt, which is buil- China alone already accounts for about one
for stationary applications, such as in the North America is Tesla country ... ding a Gigafactory in Skellefteå in the north third of the total demand for lithium-ion bat-
field of regenerative energy sources for co- of Sweden, around 700 kilometers from the teries. According to expert estimates, this
vering peak loads and as load balancing, as Outside Asia, North America in particular capital Stockholm. Initially, annual cell pro- percentage will even increase as China con-
well as in the field of uninterruptible power has taken the dominant position in lithi- duction of around eight gigawatt hours tinues to have by far the largest output of
supplies. By the end of 2019, more than 80 um-ion battery production. Tesla Motors, in (GWh) is to be achieved, followed by 32 rechargeable batteries and accumulators.
large vanadium redox flow batteries were in particular, has a big say in this. The company GWh from 2023. This would enable around This stimulates the immense lithium and co-
operation worldwide. The largest vanadium has been operating the so-called „Gigafac- 650,000 cars to be equipped with a 50-kilo- balt consumption of the country. It is still ex-
redox flow battery in Germany, with a capa- tory 1“ in Nevada since 2016. Lithium-ion watt hour battery. VW announced that it pected that China will continue to experien-
city of 2 megawatts and 20 MWh energy sto- batteries, battery packs, electric motors and would enter the project with 20%. The car ce the strongest annual increase in lithium
rage capacity, was completed in Ba- drive units for up to 500,000 electric vehicles manufacturer is investing around 900 million and cobalt demand of all major market play-
den-Württemberg in September 2019. The per year are built there. The „Gigafactory 2“ euros in this project. Daimler is already one ers over the next 5 to 10 years, mainly due to
14 15
Lithium the production of aluminum-lithium alloys.
The industry essentially distinguishes three
The element lithium types or qualities of lithium compounds:
Lithium is a light metal from the group of alka- 1. „Industrial Grade“, with a purity of over
li metals. It has the lowest density of all known 96%, mainly for glass, casting powder
solid elements. It is only about half as heavy and lubricants,
as water, naturally silvery white and relatively 2. „Technical Grade“, with a purity of about
soft. Lithium is highly reactive, which is why it 99.5%, mainly for ceramics, lubricants
is basically always found in nature as a lithium and batteries and
compound. When exposed to air, it tarnishes 3. „Battery Grade“, with a purity of over
China already has more than 40 major rapidly, which is due to the formation of lithi- 99.5%, especially for high-end cathode
production facilities for lithium-ion batteries um oxide and lithium nitride. In pure oxygen it materials in batteries and accumulators.
(Source: own presentation) burns with a bright red flame at 180°C to form
lithium oxide. Lithium reacts very strongly
with water to form lithium hydroxide. There are two types of lithium
deposits
[HE] 2s1 Lithium is generally obtained from two diffe-
an expected multiplication of the number of production capacity similar to Tesla. In Chi- 3 rent sources.
Li
rechargeable batteries. Other major sup- na, 5 Gigafactories are currently being built
pliers of lithium-ion batteries, including in parallel. In addition, there are already 1. So-called „Brine“ -, thus (salt) sheet or
South Korea and Japan, are also expected about 40 larger companies producing lithi- also brine occurrences: Mainly in salt la-
to ensure robust growth in lithium and cobalt um-ion batteries. kes, lithium carbonate is obtained from
demand. Most notably, electronics giants Melting Point 180,54° C lithium-containing salt solutions by
Boiling Point 1330°C
Panasonic, Samsung, LG Chem, BYD, Bos- evaporation of the water and addition of
ton Power, Lishen, CATL, Dynavolt and Gre- LITHIUM sodium carbonate. To obtain metallic lithi-
at Wall. Lithium-ion batteries are the um, the lithium carbonate is first reacted
current state of the art and market with hydrochloric acid. This produces car-
leader bon dioxide, which escapes as gas, and
Further Gigafactories are already Lithium production is either dissolved lithium chloride. This solution is
being created In addition to the already mentioned raw ma- lengthy or expensive concentrated in the vacuum evaporator
terials lithium, cobalt, nickel and manganese, until the chloride crystallizes.
Tesla is by far not the only lithium and cobalt a lithium-ion battery essentially consists of Worldwide lithium production is divided into 2. So-called „hard rock spodumene“, i.e.
consumer planning to increase production of aluminum, copper, graphite, zinc, tin, silver several different branches, producing the fol- hard rock pegmatite deposits: Here, lithi-
lithium-ion batteries. LG Chem has already and steel. The majority of the (lithium-ion) lowing types of lithium compounds: um compounds are not extracted from the
started production for Chevy in Michigan in batteries currently on the market are lithi- salt of lakes, but from spodumene, a lithi-
October 2015. Foxconn, BYD (the world‘s um-cobalt (dioxide) batteries, which is why 1. lithium carbonate, um-bearing aluminum silicate mineral.
largest producer of rechargeable batteries, this report focuses primarily on the battery 2. lithium hydroxide, Produced using conventional mining
primarily for cell phones), Lishen, CATL and metals lithium, nickel, vanadium and cobalt. 3. lithium chloride, technology, the resulting concentrate is
Boston Power are also working on the cons- We also want to take a look at the increasingly 4. butyllithium and often converted into lithium carbonate
truction of their own Gigafactories, including important copper for the first time. 5. lithium metal. with a purity of more than 99.5%. The in-
for so-called power banks, i.e. decentralized tensive thermal and hydrometallurgical
power storage facilities. Outside of Asia and Metallic lithium is usually produced from lithi- process required for this is considered
North America there are currently only a few um carbonate in a multi-stage process and is very costly. Such deposits are currently
serious players. Worthy of mention are usually traded with a purity of 99.5%. This exploited almost exclusively in Australia,
Northvolt from Sweden and Terra E Holding metallic lithium is used as a catalyst in the with most of the processing taking place
from Germany, each of which is aiming for a chemical and pharmaceutical industry and for in Chinese facilities.
16 17
You can also read
