Australian Mines LTD (AMSLF)

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Electric car push can drive up growth of battery metal producers

The credit ratings agency Moody’s said that if electric cars reach 8% of road traffic by the mid-2020, then demand for material used in battery of electric vehicles could rise six times, which would be delivering larger benefits to countries like Democratic Republic of Congo.

Countries shifting towards electric vehicles worldwide would potentially be boosting the demand for material like cobalt, nickel, copper and lithium, the agency said.

Cobalt is the main basic material used in the production of batteries and DRC is the number one producer of cobalt in the world, however country’s poor governance could discourage investors and could harm its potential to grow, Moody’s added in a research note.

Chile and Philippines are the other countries that would garner the advantage of the worldwide electric cars push, while Peru, Indonesia and Australia will stand among following economies that would also reap the benefit of the same, the note said.

Battery Metal companies in Australia will benefit trmendously from ht EV push. Now is the time to invest in Australian Mines LTD (AMSLF).


https://www.marketsmorning.com/electric-car-push-can-drive-up-growth-of-battery-metal-producers-moodys/