Summary
- Electric vehicle revolution in full swing, with almost 1 in 4 new vehicles being a plug-in by 2024
- Focus on securing critical metals like nickel for EV batteries & renewable energy transition
- Global EV sales expected to surpass 20 million units in 2025, driving demand for battery minerals
- Nickel playing a pivotal role in enhancing battery performance, with demand set to more than double by 2030
- Alaska Energy Metals Corporation (AEMC) focused on producing high-grade nickel in the US for energy independence in cleantech revolution
Article
The electric vehicle (EV) revolution is well underway, with nearly one out of every four new vehicles being a plug-in by 2024. The key to this revolution lies in the batteries, which rely on a handful of critical metals. Alaska Energy Metals Corporation (AEMC) is a domestic company that is leading the charge in securing these critical metals for the US. Beyond EVs, AEMC is also focused on securing metals needed for the renewable energy transition, such as nickel, copper, and cobalt. Their strategic exploration and development projects aim to strengthen US energy independence and accelerate the transition to clean technologies.
The EV market is rapidly growing globally, with governments phasing out fossil-fueled engines and the adoption of EVs increasing year after year. Global EV sales are projected to exceed 20 million units by 2025, with more than half of new vehicle sales expected to be plug-in vehicles by 2030. The demand for lithium-ion batteries is skyrocketing, leading to a significant increase in the extraction and refinement of critical materials like lithium, cobalt, platinum, and nickel.
Nickel plays a crucial role in improving battery performance, allowing EVs to travel greater distances on a single charge. With the rising adoption of renewable energy sources like solar and wind power, the demand for battery storage systems to integrate these sources into the grid continues to grow. This increasing demand for batteries and battery minerals underscores the importance of securing a stable supply of critical metals for the ongoing energy transition.
Nickel is a cornerstone of the cleantech transition, with Tesla, General Motors, and Volkswagen securing sustainable nickel supplies to meet growing production targets. Global nickel demand is forecasted to more than double by 2030, driven largely by battery production. However, challenges exist in scaling up the nickel supply chain, as much of the market relies on countries like Indonesia. AEMC is focused on addressing these challenges by advancing projects that prioritize local supply chains and uphold environmental and social governance standards.
AEMC’s flagship project, the Nikolai Project in Alaska, aims to become a major domestic nickel producer in the US by focusing on producing high-grade nickel sulphides. The project also contains significant quantities of other metals needed for EV batteries and clean energy technologies, such as cobalt, chromium, platinum, palladium, copper, and iron. The company is dedicated to sustainable mining practices and engaging with local communities and stakeholders to promote transparency.
With a focus on sustainable resource development, energy security, and a competitive market, AEMC is playing a critical role in securing the critical materials essential for clean energy, EVs, and national security. Through projects like the Nikolai Project and the Angliers-Belleterre Project in Quebec, the company is working towards ensuring a stable supply of critical metals for the ongoing cleantech revolution.
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