Good news! Extreme environmentalism made Western countries dependent on China!
"The U.S. and Europe have a nickel problem. The critical mineral is used in everything from batteries and missiles to electronics and steel. And yet, the two regions have struggled to mine and refine it largely due to permitting issues and waste concerns.
Indonesia and China dominate the refining process. Dig a little deeper, though, and it’s apparent that Chinese companies control around 75% of the nickel refining capacity in Indonesia, too, giving the country control of more than half the world’s supply. ...
Nth Cycle ... startup has been developing an electrochemical system to refine nickel and other critical minerals, including cobalt, copper, and rare earths. Just over a year ago, the company started production at a facility in Ohio that can process up to 3,100 metric tons of scrap. Now Nth Cycle has a $1.1 billion agreement with commodity trader Trafigura to quadruple that amount. ...
Though eventually there will be a tidal wave of EV batteries that need to be recycled and their metal refined, it hasn’t materialized yet and is unlikely to before the end of the decade. ..."
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