Sconi proponent Australian Mines has been buoyed by election talk of electric vehicle targets for Australia.
The company today released a quarterly activities update, with managing director Benjamin Bell noting the boost provided by the State Government declaring the planned cobalt-nickel-scandium mine near Greenvale as a prescribed project.
He also noted it was clear that electric vehicles and renewables would be a major focus of the Federal election campaign.
“With Labor declaring a target of 50 per cent electric vehicle sales in Australia by 2030 and the Coalition also indicating it has a target of 25-50 per cent over the same period, this has brought the potential of electric vehicles into sharp focus in Australia,” Mr Bell said.
“Significantly, a number of major automotive manufacturers have been quick to declare that these targets are in line with their existing internal modelling and that many of the leading carmakers are planning to have electric variants of all their vehicles, including SUVs and 4WDs, between now and 2025.
“As we are planning on producing battery-grade nickel sulphate and cobalt sulphate from Sconi, we are extremely well placed to capitalise on the expected increase in demand over the coming decade. We have a busy quarter ahead as we progress the Sconi project.”
An update announced in February increased the contained cobalt and nickel metal quantities in the project’s Greenvale Mineral Resource tonnes by 63.2 per cent and Lucknow Mineral Resource tonnes by 94.6 per cent.
The $1.4 billion project is on track for first production in 2021.