Simon Moores: Battery Metals Trends for 2023 — Geopolitics, Gigafactories and More

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Lithium-ion battery demand is set to soar as electric vehicles continue to gain traction, but finding the raw materials needed to fuel the green energy transition remains challenging.

“Batteries are becoming better, cheaper and more abundant — these are the three things that are driving forward what I think is the mega trend of our times,” Simon Moores of Benchmark Mineral Intelligence told the Investing News Network (INN).

“We're going from 600 gigawatt hours to 6,000 in the next decade. Now, whether we actually reach that order of magnitude depends on how quickly we can bring on raw materials.”

Speaking with INN at this year’s Benchmark Week, an entire week of conferences centered around the lithium-ion battery supply chain, Moores said OEMs have to take control of their supply chains.

“A lot of deals have been done with sort of development-stage junior miners, but a lot of them are very weak deals,” Moores said. “(The) reality is these companies, these developers, need hard cash to get things up and running.”

Commenting on the biggest hurdles faced by miners, Moores emphasized money, but also permitting processes.

“Funding has happened, but it's not happening still at a rate that anyone needs. Institutional money is still not as aggressive as it should be,” Moores said. “And then, if they get the money to take it to the permitting stage, then permitting is a massive hurdle — it can add 50 percent of the time onto building your mine.”

Moores also shared his insights on geopolitics in the battery metals space and what he expects to see next year. Listen to the interview to hear his full thoughts, or click here for the full Benchmark Week playlist.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.