Visualizing the Future Demand for Battery Minerals
July 1, 2024

By  Article & Editing Bruno Venditti Graphics & Design Alejandra Dander

The Future Demand For Battery Minerals


Battery minerals are vital for the clean energy transition. They power cost-effective, on-demand energy systems and are at the core of decarbonizing transportation.


In this graphic, our sponsor Sprott examines the growth in demand for battery metals, as well as potential supply constraints.


Exploring Mineral Growth to 2040


Demand for battery metals is set to skyrocket in the coming years. Let’s break down the expected growth between current usage and the projected demand in 2040, based on a Net Zero Emissions Scenario (NZE): 

Mineral Demand (kilotonnes) 2022 2040P (NZE)
Copper 6,062.6 kt 20,677.8 kt
Cobalt 68.3 kt 258.5 kt
Lithium 73.3 kt 1,187.5 kt
Nickel 460.6 kt 4,344.8 kt
Graphite 552.8 kt 4,540.4 kt
Manganese 187.4 kt 1,507.3 kt

The raw materials that batteries use can differ depending on their chemical compositions. However, these metals are considered critical for EVs and energy storage.


For example, the cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals.


Supply Gap in 2030

The growing demand for these battery metals is raising concerns over supply. Predicted shortages are expected to emerge by or before 2030, according to Energy Transitions Commission:

Mineral Supply gap in 2030P
Copper -10%
Nickel -15%
Lithium -30%
Cobalt -40%

The rising demand for key minerals, driven in part by the move to EVs, could result in a supply gap that provides a potential investment opportunity in mineral exploration and mining companies.


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March 18, 2025
TORONTO, March 18, 2025 - VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following: Appointment of Officers The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC. VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC." Option Grant The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
December 5, 2024
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.
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