Andrew Miller of Benchmark Mineral Intelligence discusses megafactories, raw materials and the potential impact of COVID-19.
Despite the tough times in the markets and in particular the battery metals space, the longer-term outlook for battery raw materials is strong, according to Benchmark Mineral Intelligence Product Director Andrew Miller.
“We are coming off a particularly tricky year for a lot of battery materials,” he said. “We’ve seen a bit of a correction in particular (with) pricing, and financing new projects has obviously been very difficult in the current environment.”
Speaking at this year’s Prospectors & Developers Association of Canada (PDAC) convention, Miller shared his thoughts on the impact COVID-19 could have on the lithium-ion supply chain.
“There hasn’t been a huge fundamental impact on production at this point,” he said. “I think what you have to monitor in the next few months is what happens in Japan, South Korea and the rest of the world for the demand of these raw materials.”
He also touched on the rise of megafactories around the world, mentioning that Benchmark Mineral Intelligence is currently tracking more than 100, which translates into over 2 terawatt hours of capacity.
“The emphasis on developing new battery projects is really coming from the commitment of major (original equipment manufacturers) downstream,” he said, talking about the challenges Europe, the US and Canada will face going forward.
Miller also discussed the response to the battery megafactories surge from the anode and cathode sides.
Watch the video above to learn more about Miller’s thoughts on raw materials, battery megafactories and what’s ahead in 2020. You can also click here for our full PDAC playlist.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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