Tesla to buy $1 billion worth Australian minerals for batteries and engines

The electric car giant Tesla to buy $1 billion worth Australian minerals for batteries and engines The minerals include Australian Lithuim, nickel and other critical minerals.

Robyn Denholm, the Chairwoman of Tesla, said in a speech during a Minerals Council of Australia event.

“Australia has the minerals to power the renewable energy age throughout the world in the coming years,”

“We expect our spend on Australian minerals to increase to more than $1 billion per annum for the next few years,”

She also added that the mining companies in Australia have good reputation, professionalism, great expertise and are preferred by manufactures increasingly concerned about meeting both today’s and the future ESG requirements.

The remarks from Denholm come as Australia’s minerals sector released its initial progress report on climate action, which shows that the industry was able to cut emissions and is aiming to reach 30% annual reduction.

The 12 case studies in the document highlights on how the industry is taking practical climate action which includes rollout of renewables, storage development carbon capture and investment of autonomous vehicles from companies like Rio Tinto, BHP, Newcrest, anglo American and Newmont.

The company already gets three quarters of its Lithium from Australia and also over a third of its nickel.

By the year 2030 the county would be able to generate a global lithium Ion battery market of A$400 billion.

It is also stated by the Tesla Chairwoman that the country has the advantage of having resources in all three battery metals.

About Tesla

It is an American electric vehicle company based in California, which produces products like electric cars, battery energy storage in solar panels and solar roof tiles.

It s also the global supplier of battery energy storage systems and the name Tesla motors is tribute to electric engineer and inventor Nikola Tesla.