[Asia Economy Reporter Byunghee Park] Major foreign media reported on the 10th that American electric vehicle company Tesla Motors has signed a nickel purchase contract for electric vehicle batteries with domestic mining company Talon Metal.
Tesla agreed to purchase 75,000 tons of concentrated nickel, which Talon Metal plans to produce at the Tamarack mine in Minnesota, over six years.
This is the first time Tesla, which is developing its own batteries, has decided to purchase nickel mined in the United States.
Previously, Tesla signed a nickel procurement contract with BHP Group, the world's largest mining company based in Australia.
Nickel is a key material used to increase the energy density of electric vehicle batteries, and with recent surging demand, nickel prices have reached their highest level in over 10 years.
Talon Metal, in a joint venture with Australian mining company Rio Tinto, will produce nickel at the Tamarack mine starting in 2026. Tesla plans to use the nickel supplied from this mine in its battery manufacturing plants in Texas and Nevada.
Tesla CEO Elon Musk previously requested American mining companies to produce nickel used in electric vehicle batteries in an environmentally friendly way, and Talon Metal is currently testing nickel smelting technology that applies carbon capture and storage techniques.
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