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Anthony Milewski: Nickel Demand to Greatly Increase as Battery Technology Advances

Anthony discusses how the electric vehicle market is growing. China and India are moving towards electric vehicles in part to reduce air pollution. Many other countries and corporations are getting on board. Electric cars will greatly influence the energy markets.

There is tremendous opportunity to make money in this space, but there are timelines. The cobalt market today has 100,000 metric tonnes of production with half used in batteries. By 2025 there will be upwards of twelve percent electric vehicle penetration. At some point, we will need 250,000 metric tonnes of cobalt per year. There will be a complete structural change in the market and it’s hard to get an exact number on the future price.We are looking at a materially higher price. Mining and technology improvements need to be incentivized.

Mr. Milewski outlines current battery technology and the ratios of nickel, manganese, and cobalt. Changes in battery design over the coming years will result in an additional need for the nickel. We are looking at a bifurcation of the market as there is an increasing need for high-grade nickel. Specific subsectors of the market will take off.

Anthony discusses various companies in the nickel space and which jurisdictions are optimal.

He talks about the effects on the copper, graphite, manganese, and vanadium markets. Vanadium will likely have industrial and commercial uses involving large scale energy storage.

Talking Points From This Week’s Episode
• Air pollution issues are driving E.V. demand in places like China and India.
• Electric vehicle adoption worldwide is increasing.
• Governments are demanding electric vehicles in the coming years to offset air pollution.
• Nickel to be increasingly needed in battery manufacturing.

Mr. Milewski has spent his career in various aspects of the mining industry, including as a company director, advisor, founder, and investor. In particular, he has been active in the battery metals industry including investing in cobalt and actively trading physical cobalt. In 2016, one of the industry’s leading publications, “The Mining Journal,” named him as a Future Mining Leader. He has managed numerous mining investments at various stages of development, including exploration, development, production and turnaround situations, and across a broad range of commodities.

Mr. Milewski holds a B.A. in Russian history from Brigham Young University, an M.A. in Russian and Central Asian studies from the University of Washington and a J.D. from the University of Washington. He holds an LLM in Corporate Finance and Russian law from the Russian Academy of Sciences.