Gold and silver investors have long been shun by the establishment, as lowly BUGs. Yet it’s not just gold investors who have been shun, but the mining industry in general. Ironically, it’s the mining industry which holds the key to the future of clean energy.
Let’s look at Electric Vehicles (EVs) for instance: Lithium, Nickel, Cobal, and Manganese are the most common components of Electric Vehicle batteries. All these metals need to be mined in order for EVs to run.
But there are several other elements which we haven’t even mentioned. For example, copper is the critical component in copper wires. Copper is conductive (it conducts elecricity) and it can store large amounts of energy while remaining resistant to corrosion.
And through the transition to Electric Vehicles, while we try to eliminate harmful emissions, critical catalytic converters rely on platinum group metals (platinum, palladium, rhodium, ruthenium and iridium).
Aluminum is commonly found in electric cars as well. Iron ore, which need to be mined and refined into steel (for the outer shells of all cars), is yet another component commonly found in vehicles. Even gold, our precious store of value, is needed for some unique purposes (given it’s one of the most conductive elements on Earth).
So the next time you hear someone talking about mining as if it’s harming the world, feel free to enlightem them by letting them know that we can’t move toward Electric Vehicles without a great deal of mining.
Source: https://sebangsanetwork.com/en/ev-battery-components-what-precious-metals-are-used-in-electric-cars-batteries/#:~:text=The%20most%20common%20metals%20are,them%20ideal%20for%20battery%20use.
