Global mining company Glencore CEO Ivan Glasenberg has said the company is in talks with carmakers and battery makers about nickel - a key component in electric vehicle batteries and one which Tesla CEO Elon Musk has asked mining companies to produce more of.
Glencore
“A lot of the automobile guys and the battery guys are talking to us about nickel,” said Glasenberg at the Financial Times Mining Summit.
Glencore this year signed an agreement with Tesla to supply it with cobalt from the Democratic Republic of Congo (DRC).
Glencore produced 121,000 tonnes of nickel in 2019 and sold 181,000 tonnes through its marketing business. It operates nickel mines in Australia, Canada and New Caledonia and a nickel refinery in Norway.
However, the company has come under fire in recent years over allegations over the use of child labour in the DRC. Glencore has consistently denied the accusations.
Glasenberg also said Glencore is running down its coal mines and won’t replace them, as part of its efforts to cut “Scope 3” emissions - indirect emissions which mining companies are under increasing pressure to address.
Glasenberg said the company’s Scope 1 and 2 emissions represent just 10% of its Scope 3 emissions - an indication of how important these indirect emissions are.
Glencore has committed to a 30% reduction in Scope 3 emissions by 2035.
Glasenberg said the company will make an announcement on its Scope 3 emissions on December 4. “We are looking at how the market looks. We are reviewing all our coal operations,” he said.
He said his focus was on running down existing coal mines, rather than spinning them off. “I don’t see how spinning off coal mines will help us reduce Scope 3 emissions,” Glasenberg said.
Back to Homepage
Back to Automotive, Maritime & Transport
Back to Metals & Mining