Following the lead of Tesla Motors Inc (NASDAQ:TSLA), LG Chem, Foxconn and others are racing to build megafactories to build batteries for electric cars. Yet even now the world supply of GRAPHITE, lithium and cobalt needed to supply these factories is INSUFFICIENT. In this interview with The Mining Report, Simon Moores, managing director of Benchmark Mineral Intelligence, explains that we can soon expect healthy prices for all three metals, but the juniors that will succeed in the market must first and foremost learn to meet the needs of the end users.
Electric car charging
The Mining Report: You have said, “Electrification of transport will not succeed unless the world has cheap, abundant, longer-lasting batteries.” What are the obstacles to obtaining such batteries?
Next Graphite, Inc. (the “Company”) entered into a Joint Venture
Favorable results from these 2013-2014 activities resulted in the go-forward build-out called for in the JVA. Based on previously reported and quantified findings on Aukam graphite from two third-party laboratories, the 140,000 tonnes of above ground tailings are forecast to generate approximately $18 million in sales proceeds based on a $1,200 per ton price. Next Graphite’s portion of that would be approximately $6,500,000. The Company is presently awaiting laboratory results on graphite findings from extensive sampling in one of its adits that could result in additional revenues. There is no assurance that laboratory tests will be favorable and that there is no assurance that $18 million in revenue forecast can be met.
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