Nickel of at least 99.8% purity, the only kind that can be processed into battery chemicals.
High-purity nickel (≥99.8% Ni) suitable for battery-grade nickel sulphate production. Class 1 nickel commands a premium over Class 2 nickel (ferronickel and nickel pig iron used in stainless steel). The EV revolution is driving unprecedented demand for Class 1 nickel.
Most world nickel goes to stainless steel and never needs this purity. Battery demand draws on a much smaller subset, which is why the nickel price and the battery-nickel story do not always move together.
Sulphide deposits reach Class 1 comparatively easily. Laterites need high-pressure acid leaching, which is capital-intensive and has a long history of cost overruns.
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