Commodities supply and demand: how the global race for battery materials is changing mining

The global commodities markets for battery-grade materials are in a state of flux and facing a period

of sustained challenge and uncertainty since Russia’s invasion of Ukraine in February 2022. While

disruptions to base metals/mineral markets have been less severe than those experienced in other

markets, such as energy and some food commodities, there has been significant disruption to Russia’s

production and exports of aluminium and nickel and other metals used for battery-grade materials in

electric vehicles (EVs). Sanctions imposed by the global community have affected prices, which have risen

sharply, and unleashed a series of knock-on consequences.

While these challenges have been compounded at a worldwide level by reduced production elsewhere, the

situation has also created opportunity for other regions to capitalise upon, but only those mining operators that

adopt a smart and long-term approach will get to realise real value across the chain of supply and demand. This

paper will outline the state of play, challenges, and opportunities at play.