Nickel financings up in May; still weak in other materials
Funds raised in nickel constituted 79% of all funds raised in battery materials in May and that was excepting the A$231m raised by laterite developer Nickel Mines for its Indonesian nickel pig iron projects, which we didn’t include in our data since it won’t make battery grade material. Having said that, activity is still extremely depressed and total funds raised for the battery materials sector are down 82% y/y YTD May. As noted in the Exploration section, we’re already seeing the impact of the shortage of funds in depressed drilling activity and, with even majors cutting their capex for 2020...
Topics
Battery Materials
Exploration
Nickel
