54 min listen
'It's just outlandish' - Matt Watson on EV uptake and mineral demand
'It's just outlandish' - Matt Watson on EV uptake and mineral demand
ratings:
Length:
49 minutes
Released:
Oct 16, 2021
Format:
Podcast episode
Description
Never mind the current rush into electric vehicles, coming regulations are going to drastically increase EV adoption and mineral demand, said Matt Watson, founder of Precious Metals Commodity Management.On Friday Watson recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.In the seven months up to July, global sales of electric vehicles were up 150% to just over 3 million units, compared to the same period in 2020, with about 1.3 million sold in China, according to the consultancy Rho Motion and reported by Reuters. And in Norway sales of EVs have been so successful, trends point to 100% market share by spring at the expense of internal combustion engine sales.Consequently battery metals have been on a tear. Lithium is up 159% for the year based on Benchmark Lithium Price Tracker.Watson estimates that EV penetration currently sits between 4% to 5%."I think the message is: you haven't seen anything yet. By 2030 to hit the zero emission mandates that have been put into place by different governments, 25% penetration is needed," said Watson."And then jumping ahead to 2035, then the numbers get really silly. Then you need 62% of the global feet transitioned to EVs.""In terms of total aggregate mineral demand [to build these EVs], it's just outlandish."
Released:
Oct 16, 2021
Format:
Podcast episode
Titles in the series (100)
Why elevated gold prices are leading to consolidation: After acquiring TMAC Resources, Agnico Eagle (TSE:AEM) still intends to keep its exploration budget elevated. On Friday CEO Sean Boyd recorded Kitco Roundtable podcast with correspondent Paul Harris and mining audiences manager Michael McCrae. Agnico Eagle operates Canadian Malartic, the nation's largest gold mine. The company is a top ten gold producer, having produced 1.7 million ounces in 2019. Agnico gave the sector a huge boost of confidence with the big M&A deal announced at the start of the year, the $286 million acquisition of TMAC Resources. Boyd said the deal was closed on its ability to generate net free cash flow. by Kitco NEWS Roundtable