By 2025, 500,000 tonnes of refined nickel will be used annually in lithium-ion batteries for electric vehicles (EVs).
This equates to a five-fold increase from the amount of nickel used in EVs in 2018.
Seeking to capitalise on Europes rapidly expanding battery production capacity for both energy storage and use in electric vehicles, Pursuit Minerals is taking steps to supply European battery manufacturers with the critical metals to expand the regions battery production capacity and battery deployment.
Pursuit expands European nickel exploration
Pursuit listed on the ASX in August 2017 following the acquisition of a portfolio of projects from Teck Australia, which remains the companys largest shareholder.
Its project portfolio is focused on Battery Metals nickel and vanadium. In 2018, the company was granted exploration tenements in Sweden and Finland, covering projects with historical deposits of vanadium and extensive confirmed areas of vanadium mineralisation.
In February 2020, Pursuit expanded its portfolio through an Option agreement, with the ability to purchase 100% interests in the Espedalen, Sigdal and Hosanger projects in Norway.