Resource Nationalism in Battery Metals: Risks and Mitigation


With continued warfare in Ukraine, conflict in Sudan and tensions between the U.S. and China, the state of international relations appears increasingly volatile. This fractious landscape sits abreast two further global challenges: the climate crisis, and the economy. Extreme weather and high inflation in many countries have exacerbated concerns over energy and resource security and supply chain resilience, prompting consumer nations to act to secure supplies of minerals that are essential for the energy transition. Meanwhile, a resurgence of resource nationalism has seen a number of key producing nations take steps to secure a greater share of the value from their mineral reserves.

In this article, we consider the effect of these trends on battery minerals, notably lithium, nickel and cobalt, and consider some steps that investors in this sector can take to mitigate these risks.

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