Excess demand for EV battery materialshttps://investorintel.com/markets/cleantech/cleantech-intel/get-ready-ev-metal-investors-as-global-electric-car-sales-for-june-2021-increased-by-a-massive-2-5x/ In the article: "In June 2021, the International Energy Agency (IEA)
announced forecasts for 2020 to 2040 total demand increases of lithium 13x to 42x, graphite 8x to 25x,
cobalt 6x to 21x,
nickel 7x to 19x, manganese 3x to 8x, rare earths 3x to 7x, and copper 2x to 3x. These types of numbers are unprecedented and will be
an enormous challenge for the mining industry to bring on adequate supply."
Cobalt, Nickel, Manganese and Rare Earths are all in SCY’s development portfolio (slide 5) In the article: "I say even worse as it usually takes 5-10+ years for a new EV metals mine to make it to production, compared to only 2 years for a battery or car factory. This means that this decade the choke point for EV supply is expected to be the battery metals." The two new projects (CMR & HPA) are fast to market, and also environmentally friendly (slide 4) After the initial financing (US 7.5M) SCY needs to:
- Substantially better promote its new (ESG) battery materials strategy
- Change its name GLTA