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1) Ford Motor Co. is deepening its involvement in the electric vehicle (EV) supply chain by directly investing in a battery-nickel plant being constructed in Indonesia. Joining PT Vale Indonesia and China's Zhejiang Huayou Cobalt Co. as investors, Ford aims to secure a stake in a project set to produce 120,000 tons of nickel chemicals annually for EV batteries. The Pomalaa plant anticipates commencing commercial production in 2026, with a total investment of $4.5 billion. Through specific investment proportions weren't disclosed, this move aligns with global automakers' efforts to secure essential materials like lithium, cobalt, and nickel crucial for EV production. While direct investments in mines and refineries remain infrequent, General Motors has invested in a US lithium miner, and Tesla is exploring the acquisition of a lithium producer. Lisa Drake, Ford's Vice President for Ford Motor e EV industrialization, highlighted the strategic advantage of direct nickel sourcing, emphasizing its alignment with the company's sustainability goals. Ms. Drake said, "this framework gives Ford direct control to source the nickel we need — in one of the industry’s lowest-cost ways — and allows us to ensure the nickel is mined in line with our company’s sustainability targets." Indonesia is emerging as a significant source of battery-grade nickel due to extensive refinery investments, primarily by Chinese entities.
2) Over 30% of globally mined copper is now originating rom sites that are certified by the Copper Mark, a leading assurabce framework for responsible copper vaule chains. This milestone was realized after Codelco's mines and smelters completed the assurance process and received the Copper Mark certification. Notably, 54 Copper Mark recipients now include ten of the world's top twenty copper mines, covering almost 80% of Chile's mined copper, a significant portion of the global supply. Chilean state-owned Codelco, the world's largest copper producer in 2022, spearheaded this achievement with a total output of 1.6 million tons of mined copper. Other major players like Freeport-McMoRan and BHP, whose primary assets such as the Morenci mine for Freeport, have also received the Copper Mark, contributed to this notable coverage. Michele Brulhart, Chief Executive of the Copper Mark, expressed enthusiasm about this milestone, emphasizing the framework's progress in promoting responsible copper production, stating that "the energy transition is boosting copper demand. We will continue to work hard to ensure the social and environmental benefits of clean energy are not undermined by the impacts caused by the extraction of materials needed to support it. As part of this work, we continue to engage with the full value chain and to extend our partnerships with end users. These efforts across the industry are welcomed by consumers, who are increasingly seeking out more responsibly produced raw materials."