Why Nickel Is The New Gold? Why Is Every Country Fighting For It?

nickel vs gold

Why Nickel Is The New Gold? Why Is Every Country Fighting For It?

In older times, people used to fight for diamonds, gold, and metals like these. As time passed, peoples’ priorities changed. Nowadays, everyone wants a comfortable lifestyle. Automobiles can be included in the category of personal luxury as well.

The rate of global warming is increasing day by day. The environmentalists are leading the awareness campaign among people. Asa result, people have stopped using the things that harm the environment. The fuel-consuming cars also come in this list. Those cars run on fuel that burns to add more pollution in the surroundings.

The companies always put the peoples’ desires at their top priority. The automobile industry is huge. The biggest automobile companies run the industrial sector of their country. Seeing the rapid decline in the purchase of fuel-consuming automobiles, companies have started to manufacture electric cars.

Electric cars run on EV batteries. These batteries are considered to be the powerhouse of these cars. These cars are environmentally friendly which means that they add no pollution in the surroundings. This feature caught the attention of many people causing the manufacturing companies to earn billions.

Why Nickel Got So Important

EV batteries are called lithium-ion batteries as per their composition. Elon Musk, the owner of Tesla, revealed that lithium is just the name given to the formula. The primary role is played by nickel. Nickel is the metal that enhances the efficiency and storage capacity of EV batteries. The most amazing factor is that nickel is not that expensive. It is available at a comparatively low price. He revealed the name of the magic ingredient. This statement started a fire in the automobile industry.Now Each company wants this metal to manufacture good-quality batteries.

The manufacturing companies signed big contracts for the import of nickel. Nickel mining was going down day by day. This reveal again revolutionized the whole process and aim of mining metals. Industrial countries are trying to find the reservoirs of nickel. This situation benefitted one country the most. That country is Indonesia. It is because Indonesia has enormous reservoirs of nickel. This thing made Indonesia the biggest EV battery supplier in the world.

Nickel mining was not that common. As its features were not known to people before, nickel mining was going at a loss. According to the analysts, as nickel mining was not given proper attention, it would take some time to grow again. Approximately 6-7 years.

Concern Of Every Country

Every country is aiming at nickel reservoirs. Especially the industrial countries are in dire need of nickel to keep their business running. People in the industry follow Elon Musk blindly. All the biggest businessmen have started to invest in nickel. As time passes, the price of nickel will increase gradually, leading to a considerable profit. Talking about cryptocurrency, everyone has started to invest in the nickel exchange. The companies that ensure the safe and easy transaction of exchange are immediately ranking at the topmost positions.

In short, the amazing and significant role played by nickel in EV batteries has led to its immense popularity and demand.

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