A new study released by Canadian public policy think-tank Fraser Institute finds that 388 new mines must be built to provide the necessary minerals to meet international government mandates for electric vehicles.
“The sheer scale of mining required to meet EV mandates raises serious questions about the timelines being imposed by governments,” said Kenneth Green, senior fellow at the Fraser Institute and author of “Can Metal Mining Match the Speed of the Planned Electric Vehicle Transition?”
According to a federal mandate, all new passenger vehicles and light trucks sold in Canada must be zero-emission by 2035, and 50% of all new passenger cars and light trucks in the U.S. must be zero-emission by 2030.
Due to the time required to locate, design, develop and build mining and refining projects –including time related to regulatory requirements imposed by the government – it can take between 13 and 18 years to start nickel production and six to nine years for lithium production.
“The significant risk of inadequate mineral and metal production threatens the viability and realism of government-mandated EV transition plans,” Green said.
Source: Fraser Institute