Overall cobalt demand from batteries will grow as much as 1.5 times by 2030, while lithium demand will jump fivefold. Demand for nickel will reach 1.4 million metric tons in 2030, while copper and aluminum will reach 3.9 million and 3.1 million tons, respectively.
Metals demand occurs at mine mouth, one-year before battery demand. All metals expressed in metric tons of contained metal, except lithium, which is in lithium carbonate equivalent (LCE).
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