BHP to boost nickel exploration spending amid EV boom
$BHP Group Ltd(BHP.AU$
BHP Group will increase its spending on nickel exploration over the next two years to meet growing demand for the raw material used in making electric vehicle batteries.
BHP, through its Nickel West unit, has supply agreements for the metal with Tesla $Tesla(TSLA.US$ and Toyota $Toyota Motor(TM.US$ , and this month also announced a deal with Ford $Ford Motor(F.US$ .
BHP Group will increase its spending on nickel exploration over the next two years to meet growing demand for the raw material used in making electric vehicle batteries.
BHP, through its Nickel West unit, has supply agreements for the metal with Tesla $Tesla(TSLA.US$ and Toyota $Toyota Motor(TM.US$ , and this month also announced a deal with Ford $Ford Motor(F.US$ .
The miner said it has the second largest nickel sulphide resource base globally, based on its land holding, totalling 120,000 hectares, in the Agnew-Wiluna belt in Western Australia.
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