In case you haven’t noticed, EV battery technology is the new black.
With Lithium being one of the key metals driving this technology, our friends at Benchmark Mineral Intelligence have looked at the material’s supply chain – and the time it takes to develop the respective components of it.
As Simon Moores, managing director at Benchmark Mineral Intelligence and member of the ARPN panel of experts, captioned the graphic below in a recent tweet: “The three parts of the lithium ion battery supply chain live in different worlds. Lithium suppliers need to stay well ahead of the demand curve … at the moment they are behind.”
The chart serves as a great reminder of why resource policy can’t occur in a vacuum – and why it is crucial for policy makers to think strategically and comprehensively.
Thankfully, the U.S., which has long had the dubious honor of having one of the lengthiest permitting processes for mining projects among the leading mining nations, has embarked on a quest to streamline the policies hampering the responsible development of our nation’s mineral riches. As friends of ARPN know well, U.S. competitiveness and national security are at stake.