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Nickel investments may reward investors with solid returns amid EV boom

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Uma Devi

Uma Devi

Published Wed, Mar 29, 2023 · 05:50 AM
    • Dump trucks at a nickel mine in Sorowako, South Sulawesi, Indonesia; the country is expected to become an increasingly important producer and exporter of refined nickel.
    • Dump trucks at a nickel mine in Sorowako, South Sulawesi, Indonesia; the country is expected to become an increasingly important producer and exporter of refined nickel. PHOTO: BLOOMBERG

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    GOLD prices are rising rapidly as investors pile into this safe haven amid banking industry woes, but nickel may be the more interesting precious metal to watch – thanks to the booming electric vehicle (EV) industry.

    Nickel is found in a variety of products including coins, wires and gas turbines. For the EV sector, nickel is an essential component in lithium ion batteries. 

    “Nickel has better demand dynamics than some other metals, given its usage in EV batteries and the growth of the EV market,” said Robeco’s head of Asia-Pacific equities Joshua Crabb.

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