Highlands Pacific CEO

PNG cobalt, nickel demand to rise

According to a presentation by Highlands Pacific CEO, Craig Lennon, to an investment event held in Sydney recently, global forecasts show that electronic vehicles (EV) and storage battery demand will rise exponentially over the next 20 years.

EV sales are expected to reach just over 60 million by 2040.

By 2035 alone, it is forecasted that EV production will require an additional 1.8 million tons (Mt) nickel (Ni) and 679 kilotons (kt) of cobalt (Co).