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BHP bets big on EV-driven nickel boom

Miner pursues battery material while shrinking dependence on China, iron ore

A view of BHP Group's nickel sulphate plant being built south of Perth, Australia. The Anglo-Australian miner is pivoting heavily toward nickel to capture demand from the EV industry.   © Reuters

SYDNEY -- Anglo-Australian mining giant BHP is making a massive investmenst in nickel, the critical material found in electric-vehicle batteries that is powering the next generation of vehicles.

The group signaled the pivot earlier this month by announcing it will spend 140 million Australian dollars ($96.6 million) over two years to explore untapped troves of nickel around an existing development.

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