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Large automakers entering the mining biz is 'inevitable' - Rho Motion

Michael McCrae

Kitco News

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Automaker are being forced into operational roles in the mining sector, said Rho Motion's Adam Panayi on Friday.

The managing director of Rho Motion recorded a Kitco Roundtable podcast with correspondent Paul Harris, Mining Audiences Manager Michael McCrae and editor Neils Christensen.

To make electric vehicles, automakers are going to need a lot more cobalt, lithium, nickel and copper than is currently being mined.

Panayi said large automakers getting into the mining business is "inevitable" since the magnitude of some of the special materials needed is nearly akin to building an "entire sector from scratch."

"You are going to need continuing investment in that market for [nearly] the next two decades in order to keep pace with the growth of EVs and other battery technologies," said Panayi.

By Michael McCrae

For Kitco News

Contact mmccrae@kitco.com
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