Axiom Mining Limited ( ASX:AVQ )
When you think about the lithium-ion battery movement, and the move away from fossil fuels to clean energy, you would naturally think about the role lithium and graphite is playing in this new energy paradigm.
However a little known fact is the huge requirements for nickel in lithium ion batteries – in fact Tesla CEO Elon Musk thinks lithium ion battery cells should really be called “nickel graphite” battery cells.
That’s not to mention the strong base level demand for nickel – a commodity for which prices rises can be quite dynamic – due to its use in stainless steel.
One ASX listed junior capped at $48.5 million is hoping to ride the coattails of macro-economic factors currently working in nickel’s favour including Chinese manufacturing requirements, export bans from major traditional suppliers and stainless steel demand which could create optimal market conditions as this ASX stock gets set to come into production in 2017.
This company’s focus for now is on the San Jorge tenement in the Solomon Islands – a holding making up approximately 50% of the known world class Isabel nickel deposits. And it is on track to fully define the high grade mineralisation, as well as its parameters for mining in the near term.
Nickel Back? ASX Stock Bringing Low Cost Mine into Production
Jan 10, 2017
There are a few minerals and metals which are destined to ride the coattails of the electric car and electro-powered greening boom: lithium, graphite, nickel, cobalt… a few rare earths as well.