The «traditional» materials for new economy

Kondratiev V.B.
Institute of World Economy and International Relations of the Russian Academy of Sciences, Moscow, Russian Federation
Russian Mining Industry №4 / 2020 стр. 109-119

Abstract: The growing need to store energy in electric vehicles is boosting interest in using rechargeable batteries. This translates into a sharp increase in demand and production of the most important raw materials used in battery production, i.e. lithium, cobalt, nickel and others. The paper provides an overview of the production dynamics, consumption patterns and reserve structure of lithium, cobalt, nickel, natural graphite and silicon. The utilization patterns of these minerals are presented for conventional and electric vehicles. Recent price hikes for the battery materials have raised concerns among the key players in the mining industry about the long-term availability of these commodities and have highlighted different supply dynamics. The future dynamics for these commodities will be controlled by several factors. The most critical of these are the rate of electric vehicles introduction and the geographical shift in the battery production. In the current market conditions, mining companies are trying to move from short-term profits to building long-term strategies. This strategy includes partnerships with battery manufacturers and suppliers, carmakers and financial players. The aim of this partnership is to create a wider market for the commodities produced. The review shows that the global value chains are already evolving to ensure a transparent and reliable supply of materials from the mine where they are extracted to the production facilities and installation of batteries on electric vehicles.

Keywords: electric vehicles, batteries, lithium, cobalt, nickel

For citation: Kondratiev V.B. The «traditional» materials for new economy. Gornaya promyshlennost = Russian Mining Industry. 2020;(4):109–119. (In Russ.) DOI 10.30686/1609-9192-2020-4-109-119.

Article info

Received: 29.06.2020

Revised: 17.07.2020

Accepted: 21.07.2020

Information about the author

Vladimir B. Kondratiev – Doctor of Science (Economics), Professor, Head of Center for Industrial and Investment Research, Institute of World Economy and International Relations of the Russian Academy of Sciences, Moscow, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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