Automotive industry leading the electric revolution
One fundamental part in the transformation towards a more sustainable society is to limit the emissions from the transportation and automotive sector. Car manufacturers across the world are transforming from fossil fuel to electricity, and the transition towards is happening fast.
Battery minerals core part of the revolution
With this transition, the need for batteries have sky rocketed. Different reports suggest that the demand for batteries for the electric vehicle industry is expected to double or triple in the next few years creating a completely new industry. The need for battery minerals, such as copper, cobalt, nickel and lithium, as well as rare earth element for electric components, will increase and grow at the same pace as the electric vehicle industry.
With a large European electric vehicle industry, the EU has set a goal for the region to become the global leader in sustainable battery production. This is a key strategic move in order to achieve the target for the region to be climate neutral by 2050 as defined by the EU commission. However, today roughly only two to four percent of the batteries needed in the European electric vehicle industry and clean energy solutions are manufactured within the region. Heavy investments are done in the industry and several plants for battery manufacturing are built and under construction.
European electric vehicle industry and European mining hand in hand
The majority of all battery minerals are extracted outside Europe in countries such as China, Australia and Chile, but also in Congo where over 60 percent of all cobalt is mined. A country characterized by poor working conditions and conflicts and in which the mining industry has been equated in several reports with the extraction of so-called blood diamonds.
To address these challenges, and to make sure that the sourcing of battery minerals for the European electric vehicle industry is extracted in a responsible way, the European Commission has pointed out that the conditions for enhanced extraction of battery minerals within Europe are very good.
A European production of battery minerals will enable the vehicle industry to increase transparency and traceability in the production process. It will also enable Europe to become self-sufficient in this key raw material necessary for the electric revolution. Eurobattery Minerals is determined to play an important role in this by providing responsibly mined battery minerals from Europe. As such, the company is one of the foundations in the battery value chain and the electric revolution.