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Another quiet month for fundraising

Posted on - 12 Dec 2022

Category - Finance/M&A

It was another relatively quiet month for funding in the battery materials sector, with nickel leading the way with US$488m raised, although US$470m of this came from the IPO of China’s Lygend Mining. In fact, US$2.3bn of the total US$3.3bn raised in nickel this year has come from Chinese fundraisings with the Western World only managing c.US$1bn raised, in no way enough to catalyse development in the ex-Asian nickel industry. One does wonder when the shoe will drop for ESG investors that the bulk of carmakers in the world are planning to use extremely dirty nickel produced from Indonesian laterite...

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