Published

5 days ago

on

July 13, 2023

By

Tessa Di Grandi

Graphics & Design

• Zack Aboulazm

The Rise of the LFP Battery

Primarily a key component in fertilizers, phosphate is also essential to lithium iron phosphate (LFP) battery technology.

LFP is an emerging favorite in the expanding EV market, particularly in standard-range EVs. Factors driving this popularity include superior safety, longevity, cost-effectiveness, and environmental sustainability.

In this graphic, our sponsor First Phosphate looks at the growing LFP market, highlighting forecasted growth and current market share.

Market Growth

In 2022, the global LFP battery market stood at $12.5 billion. By 2030, this figure is expected to catapult to nearly $52.7 billion, signifying a CAGR of 19.7%.

Year	USD (Billion)
2021	$10.5B
2022	$12.5B
2023F	$15.0B
2024F	$17.9B
2025F	$21.5B
2026F	$25.7B
2027F	$30.7B
2028F	$36.8B
2029F	$44.0B
2030F	$52.7B

In 2022, LFP batteries cornered a sizable 30% of the EV market share from just 6% in 2020, demonstrating the growing appeal of this type of lithium-ion battery in the electric vehicle sector.

Market Share

The Asia Pacific region dominated the LFP battery market in 2021, accounting for over 34% of the global share.

Regions	Revenue Share (%)
Asia Pacific	34%
North America	29%
Europe	23%
Latin America	10%
MEA	4%

Meanwhile, North America, with the second largest share, is projected to witness ongoing growth through 2030.

First Phosphate holds access to 1% of the world’s purest igneous rock phosphate reserves in Québec, making it an ideal supplier for the growing LFP market.

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Related Topics: #batteries #lithium ion batteries #evs #LFP Batteries #Lithium Iron Phosphate Batteries #First Phosphate

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The post Visualized: The Rise of the LFP Battery appeared first on Visual Capitalist.

The Countries Buying Fossil Fuels from Russia in 2023

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.

While Russia’s revenues from fossil fuel exports have declined significantly since their peak in March of 2022, many countries are still importing millions of dollars a day worth of fossil fuels from Russia.

Revenue from fossil fuels exported to the EU has declined more than 90% from their peak, but in 2023 the bloc has still imported more than $18 billion of crude oil and natural gas so far.

This graphic uses data from the Centre for Research on Energy and Clean Air (CREA) to visualize the top-importing countries of fossil fuels from Russia so far this year.

China Remains Russia’s Top Fossil Fuel Importer

China continues to be Russia’s top buyer of fossil fuels, with imports reaching $30 billion in 2023 up until June 16, 2023.

With nearly 80% of China’s fuel imports being crude oil, Russia’s average daily revenues from Chinese fossil fuel imports have declined from $210 million in 2022 to $178 million in 2023 largely due to the falling price of Russian crude oil.

Following China are EU nations collectively, which despite no longer importing coal from Russia since August of 2022, still imported $18.4 billion of fossil fuels in a 60/40 split of crude oil and natural gas respectively.

Country	Russian Fossil Fuel Imports* (Total)	Crude Oil	Natural Gas	Coal
China	$30B	$23.9B	$2.7B	$3.3B
EU	$18.4B	$11.2B	$7.2B	$0
India	$15.2B	$12.8B	$0	$2.5B
Türkiye	$12.1B	$7.3B	$3B	$1.7B
UAE	$2.3B	$2.3B	$0	$0
South Korea	$2.1B	$0.6B	$0.3B	$1.2B
Slovakia	$2.0B	$1.1B	$0.9B	$0
Hungary	$1.9B	$0.8B	$1.1B	$0
Belgium	$1.9B	$0.5B	$1.4B	$0
Japan	$1.8B	$0	$1.5B	$0.3B
Spain	$1.7B	$0.6B	$1.1B	$0
Singapore	$1.7B	$1.7B	$0	$0
Brazil	$1.6B	$1.4B	$0	$0.2B
Netherlands	$1.6B	$1.5B	$0.1B	$0
Saudi Arabia	$1.5B	$1.4B	$0	$0
Egypt	$1.4B	$1.3B	$0	$0.2B
Bulgaria	$1.3B	$1.1B	$0.3B	$0
Italy	$1.2B	$0.8B	$0.4B	$0
Malaysia	$1.1B	$1.0B	$0	$0.1B
Czech Republic	$1.0B	$1.1B	$0	$0

*Over the time period of Jan 1, 2023 to June 16, 2023 in U.S. dollars

After China and the EU bloc, India is the next-largest importer of Russian fossil fuels, having ramped up the amount of fossil fuels imported by more than 10x since before Russia’s invasion of Ukraine, largely due to discounted Russian oil.

Türkiye is the only other nation to have imported more than $10 billion worth of Russian fossil fuels in 2023, with every other country having imported fewer than $3 billion worth of fuels from Russia this year.

Navigating the Crude Reality of Oil Exports

Although crude oil is Russia’s chief fossil fuel export, the nation’s Urals crude traded at a $20 per barrel discount to Brent crude throughout most of 2023. While this discount has narrowed to around $16 following Russia’s announcement of further oil export cuts of 500,000 bpd (barrels per day), the price of Urals crude oil remains just 40 cents below the $60 price cap put in place by G7 and EU nations.

Alongside Russia, Saudi Arabia also announced it would extend its cut of 1 million bpd until the end of August, with Saudi Energy Minister Prince Abdulaziz bin Salman commenting on the country’s solidarity with Russia and saying it would do “whatever is necessary” to support the oil market.

While OPEC and OPEC+ nations’ cuts are an attempt at pushing crude oil prices up, increased production from the U.S. has counteracted this. The EIA forecasts 2023 U.S. production to be 12.6 million bpd, surpassing the high in 2019 of 12.3 million bpd.

The post Who’s Still Buying Russian Fossil Fuels in 2023? appeared first on Visual Capitalist.

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How Big is the Market for Crude Oil?

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While the global economy relies on many commodities, none come close to the massive scale of the crude oil market.

Besides being the primary energy source for transportation, oil is a key raw material for numerous other industries like plastics, fertilizers, cosmetics, and medicine. As a result, the global physical oil market is astronomical in size and has a significant economic and geopolitical influence, with a few countries dominating global oil production.

The above infographic puts crude oil’s market size into perspective by comparing it to the 10 largest metal markets combined. To calculate market sizes, we used the latest price multiplied by global production in 2022, based on data from TradingEconomics and the United States Geological Survey (USGS).

Note: This analysis focuses on raw and physical materials, excluding derivative markets and alloy materials like steel.

How Big Is the Oil Market?

In 2022, the world produced an average of 80.75 million barrels of oil per day (including condensates). That puts annual crude oil production at around 29.5 billion barrels, with the market size exceeding $2 trillion at current prices.

That figure dwarfs the combined size of the 10 largest metal markets:

Commodity	2022 Annual Production	Market Size
Crude Oil	29.5 billion barrels	$2.1 trillion
Iron Ore	2.6 billion tonnes	$283.4 billion
Gold	3,100 tonnes	$195.9 billion
Copper	22 million tonnes	$183.3 billion
Aluminum	69 million tonnes	$152.6 billion
Nickel	3.3 million tonnes	$68.8 billion
Zinc	13 million tonnes	$30.9 billion
Silver	26,000 tonnes	$19.9 billion
Molybdenum	250,000 tonnes	$12.9 billion
Palladium	210 tonnes	$9.5 billion
Lead	4.5 million tonnes	$9.2 billion

Based on prices as of June 7, 2023.

The combined market size of the top 10 metal markets amounts to $967 billion, less than half that of the oil market. In fact, even if we added all the remaining smaller raw metal markets, the oil market would still be far bigger.

This also reflects the massive scale of global oil consumption annually, with the resource having a ubiquitous presence in our daily lives.

The Big Picture

While the oil market towers over metal markets, it’s important to recognize that this doesn’t downplay the importance of these commodities.

Metals form a critical building block of the global economy, playing a key role in infrastructure, energy technologies, and more. Meanwhile, precious metals like gold and silver serve as important stores of value.

As the world shifts towards a more sustainable future and away from fossil fuels, it’ll be interesting to see how the markets for oil and other commodities evolve.

The post How Big is the Market for Crude Oil? appeared first on Visual Capitalist.

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How Old Are the World’s Nuclear Reactors?

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Since the advent of nuclear electricity in the 1950s, nuclear reactors have played an essential role in meeting our rising energy needs.

Nuclear reactors are designed to operate for decades and are typically licensed for 20 to 40 years, and they can last even longer with license renewals.

So, just how old is the world’s current nuclear reactor fleet?

The bubble chart above looks at the age distribution of the 422 reactors operating worldwide as of March 2023, based on data from the Power Reactor Information System (PRIS).

The Age Distribution of the Global Reactor Fleet

Nuclear power saw a building boom in the 1970s, 1980s, and 1990s as countries expanded their energy portfolios and sought to capitalize on the advancements in nuclear technology.

As a result, the majority of the world’s nuclear reactors began operating during this period.

Age Group (years)	Number of Reactors	Net Electrical Capacity (megawatts)
0–10	67	66,937
11–20	29	20,964
21–30	46	40,905
31–40	155	149,638
41–50	107	88,526
>50	18	10,921
Total	422	377,891

Data as of March 22, 2023.

Of the total of 422 reactors, 262 reactors have been in operation for 31 to 50 years. In other words, about 62% of all current nuclear reactors were connected to the grid between 1973 and 1992.

Growth in nuclear power slowed down by the turn of the 21st century, with decreasing public support and increasing concern over nuclear safety. As a result, only a small number of reactors fall into the 11 to 20 year age group.

But over the last decade, some countries have renewed their interest in nuclear energy, while others like China have continued to expand their reactor fleets. Some 67 reactors are between zero and 10 years old, accounting for 18% of global nuclear electrical capacity.

The oldest operating reactors (five of them) are 54 years old and entered commercial service in 1969. Two of these are located in the United States, two in India, and one in Switzerland.

How Long Can Nuclear Reactors Last?

Although specific lifespans can vary, nuclear reactors are typically designed to last for 20 to 40 years.

However, reactors can operate beyond their initially licensed periods with lifetime extensions. Extending reactor lives requires rigorous assessments, safety evaluations, and refurbishments.

Some countries have granted license renewals for aging reactors. Notably, 88 of the 92 reactors in the U.S. have received approvals to operate for up to 60 years, and some have applied for additional 20-year extensions to operate for up to 80 years.

With safety concerns addressed, reactors with lifetime extensions can offer various advantages. Without the high capital investments needed to build new reactors, they can produce carbon-free electricity at low and competitive costs, which is especially important as the global power sector looks to decarbonize.

The post How Old Are the World’s Nuclear Reactors? appeared first on Visual Capitalist.

Life Cycle Emissions: EVs vs. Combustion Engine Vehicles

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According to the International Energy Agency, the transportation sector is more reliant on fossil fuels than any other sector in the economy. In 2021, it accounted for 37% of all CO₂ emissions from end‐use sectors.

To gain insights into how different vehicle types contribute to these emissions, the above graphic visualizes the life cycle emissions of battery electric, hybrid, and internal combustion engine (ICE) vehicles using Polestar and Rivian’s Pathway Report.

Production to Disposal: Emissions at Each Stage

Life cycle emissions are the total amount of greenhouse gases emitted throughout a product’s existence, including its production, use, and disposal.

To compare these emissions effectively, a standardized unit called metric tons of CO₂ equivalent (tCO₂e) is used, which accounts for different types of greenhouse gases and their global warming potential.

Here is an overview of the 2021 life cycle emissions of medium-sized electric, hybrid and ICE vehicles in each stage of their life cycles, using tCO₂e. These numbers consider a use phase of 16 years and a distance of 240,000 km.

		Battery electric vehicle	Hybrid electric vehicle	Internal combustion engine vehicle
Production emissions (tCO2e)	Battery manufacturing	5	1	0
	Vehicle manufacturing	9	9	10
Use phase emissions (tCO2e)	Fuel/electricity production	26	12	13
	Tailpipe emissions	0	24	32
	Maintenance	1	2	2
Post consumer emissions (tCO2e)	End-of-life	-2	-1	-1
	TOTAL	39 tCO2e	47 tCO2e	55 tCO2e

While it may not be surprising that battery electric vehicles (BEVs) have the lowest life cycle emissions of the three vehicle segments, we can also take some other insights from the data that may not be as obvious at first.

1. The production emissions for BEVs are approximately 40% higher than those of hybrid and ICE vehicles. According to a McKinsey & Company study, this high emission intensity can be attributed to the extraction and refining of raw materials like lithium, cobalt, and nickel that are needed for batteries, as well as the energy-intensive manufacturing process of BEVs.
2. Electricity production is by far the most emission-intensive stage in a BEVs life cycle. Decarbonizing the electricity sector by implementing renewable and nuclear energy sources can significantly reduce these vehicles’ use phase emissions.
3. By recycling materials and components in their end-of-life stages, all vehicle segments can offset a portion of their earlier life cycle emissions.

Accelerating the Transition to Electric Mobility

As we move toward a carbon-neutral economy, battery electric vehicles can play an important role in reducing global CO₂ emissions.

Despite their lack of tailpipe emissions, however, it’s good to note that many stages of a BEV’s life cycle are still quite emission-intensive, specifically when it comes to manufacturing and electricity production.

Advancing the sustainability of battery production and fostering the adoption of clean energy sources can, therefore, aid in lowering the emissions of BEVs even further, leading to increased environmental stewardship in the transportation sector.

The post Life Cycle Emissions: EVs vs. Combustion Engine Vehicles appeared first on Visual Capitalist.

Published

1 month ago

on

June 16, 2023

By

Tessa Di Grandi

Graphics & Design

• Zack Aboulazm

Mapped: Where is the Best Phosphate For LFP Batteries?

Although global phosphate reserves stand at 72 billion metric tons, EV batteries typically require high-purity phosphate found in rare igneous rock phosphate deposits.

In this infographic sponsored by First Phosphate, we explore global phosphate reserves and highlight which deposits are best suited for Lithium iron phosphate (LFP) battery production.

Phosphate Rock: Sedimentary vs. Igneous

Phosphate exists in both sedimentary and igneous rock types.

Sedimentary rock forms from layers of sediment and organic matter, while igneous rock originates from cooled magma or lava.

Interestingly, igneous phosphate rock deposits have the advantage of producing higher-purity phosphoric acid suitable for EV battery production, but 95% of global phosphate is in sedimentary rock.

Where in the World is Phosphate?

The lion’s share of phosphate reserves, around 70%, is located in Morocco.

Rank	Country	Reserves (in thousand metric tons)	Share (%)
1	Morocco	50,000,000	69.4%
2	Egypt	2,800,000	3.9%
4	Tunisia	2,500,000	3.5%
5	Algeria	2,200,000	3.1%
6	China	1,900,000	2.6%
7	Brazil	1,600,000	2.2%
8	South Africa	1,600,000	2.2%
9	Saudi Arabia	1,400,000	1.9%
10	Australia	1,100,000	1.5%
11	United States	1,000,000	1.4%
12	Finland	1,000,000	1.4%
13	Jordan	1,000,000	1.4%
14	Russia	600,000	0.8%
15	Kazakhstan	260,000	0.4%
16	Peru	210,000	0.3%
17	Uzbekistan	100,000	0.1%
18	Israel	60,000	0.1%
19	Senegal	50,000	0.1%
20	Turkey	50,000	0.1%
21	India	46,000	0.1%
22	Mexico	30,000	0.0%
23	Togo	30,000	0.0%
24	Vietnam	30,000	0.0%
3	Other countries	2,600,000	3.6%
	World total (rounded)	72,000,000	100.00%

Significant igneous phosphate deposits are only found in Brazil, Canada, Finland, Russia, and South Africa. 

Within igneous rock types, there is also a distinction in purity. About 4% of global phosphate deposits are igneous carbonatite rock, while a mere 1% are the highest-purity igneous anorthosite rock.

Why is it Important for EVs?

The igneous rock type itself is crucial, especially when considering the waste produced during the creation of purified phosphoric acid used in lithium iron phosphate (LFP) batteries for EVs.

Igneous anorthosite rock advantages for LFP battery production include:

1. 90% can be converted to LFP grade purified phosphoric acid for LFP battery
2. Allows 100% focus on LFP battery and EV clients downstream
3. Clean processing allows for a fully circular economy.

First Phosphate: Leading the Charge

With a rare igneous anorthosite rock deposit in Québec, First Phosphate is leading the charge in producing the highest purity, ESG-driven, carbon-neutral phosphate for the global LFP battery industry.

Download First Phosphate’s Investor Deck now.

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Related Topics: #evs #phosphate #LFP Batteries #Lithium Iron Phosphate Batteries #First Phosphate

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Visualizing the World’s Largest Lithium Producers in 2022

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.

Lithium has become essential in recent years, primarily due to the boom in electric vehicles and other clean technologies that rely on lithium batteries.

The global lithium-ion battery market was valued at $52 billion in 2022 and is expected to reach $194 billion in 2030.

The infographic above uses data from the United States Geological Survey to explore the world’s largest lithium producing countries.

Australia and Chile: Dominating Global Lithium Supply

Australia and Chile stand out as the top producers of lithium, accounting for almost 77% of the global production in 2022.

Rank	Country	Mine production 2022E (tonnes)	Share (%)
1	Australia	61,000	46.9%
2	Chile	39,000	30.0%
3	China	19,000	14.6%
4	Argentina	6,200	4.8%
5	Brazil	2,200	1.7%
6	Zimbabwe	800	0.6%
7	Portugal	600	0.5%
8	Canada	500	0.4%
	Other countries*	700	0.5%
	World Total	130,000	100.0%

*U.S. production data was withheld to avoid disclosing proprietary company data

Australia, the world’s leading producer, extracts lithium directly from hard rock mines, specifically the mineral spodumene.

Chile, along with Argentina, China, and other top producers, extracts lithium from brine.

Hard rock provides greater flexibility as lithium hosted in spodumene can be processed into either lithium hydroxide or lithium carbonate. It also offers faster processing and higher quality as spodumene typically contains higher lithium content.

Extracting lithium from brine, on the other hand, offers the advantage of lower production costs and a smaller impact on the environment. The following visual from Benchmark Minerals helps break down the carbon impact of different types of lithium extraction.

With that said, brine extraction can also face challenges related to water availability and environmental impacts on local ecosystems.

Historical Shifts in the Lithium Supply Chain

In the 1990s, the United States held the title of the largest lithium producer, producing over one-third of the global production in 1995.

However, Chile eventually overtook the U.S., experiencing a production boom in the Salar de Atacama, one of the world’s richest lithium brine deposits. Since then, Australia’s lithium production has also skyrocketed, now accounting for 47% of the world’s lithium production.

China, the world’s third-largest producer, not only focuses on developing domestic mines but has also strategically acquired approximately $5.6 billion worth of lithium assets in countries like Chile, Canada, and Australia over the past decade.

Furthermore, China currently hosts nearly 60% of the world’s lithium refining capacity for batteries, underlining its dominant position in the lithium supply chain.

Meeting Lithium Demand: The Need for New Production

As the world increases its production of batteries and electric vehicles, the demand for lithium is projected to soar.

In 2021, global lithium carbonate equivalent (LCE) production sat at 540,000 tonnes.

By 2025, demand is expected to reach 1.5 million tonnes of LCE. By 2030, this number is estimated to exceed 3 million tonnes.

The post Visualizing the World’s Largest Lithium Producers appeared first on Visual Capitalist.

Renewable and Battery Installations in the U.S. in 2023

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.

Renewable energy, in particular solar power, is set to shine in 2023. This year, the U.S. plans to get over 80% of its new energy installations from sources like battery, solar, and wind.

The above map uses data from EIA to highlight planned U.S. renewable energy and battery storage installations by state for 2023.

Texas and California Leading in Renewable Energy

Nearly every state in the U.S. has plans to produce new clean energy in 2023, but it’s not a surprise to see the two most populous states in the lead of the pack.

Even though the majority of its power comes from natural gas, Texas currently leads the U.S. in planned renewable energy installations. The state also has plans to power nearly 900,000 homes using new wind energy.

California is second, which could be partially attributable to the passing of Title 24, an energy code that makes it compulsory for new buildings to have the equipment necessary to allow the easy installation of solar panels, battery storage, and EV charging.

New solar power in the U.S. isn’t just coming from places like Texas and California. In 2023, Ohio will add 1,917 MW of new nameplate solar capacity, with Nevada and Colorado not far behind.

Top 10 States	Battery (MW)	Solar (MW)	Wind (MW)	Total (MW)
Texas	1,981	6,462	1,941	10,385
California	4,555	4,293	123	8,970
Nevada	678	1,596	0	2,274
Ohio	12	1,917	5	1,934
Colorado	230	1,187	200	1,617
New York	58	509	559	1,125
Wisconsin	4	939	92	1,034
Florida	3	978	0	980
Kansas	0	0	843	843
Illinois	0	363	477	840

The state of New York is also looking to become one of the nation’s leading renewable energy providers. The New York State Energy Research & Development Authority (NYSERDA) is making real strides towards this objective with 11% of the nation’s new wind power projects expected to come online in 2023.

According to the data, New Hampshire is the only state in the U.S. that has no new utility-scale renewable energy installations planned for 2023. However, the state does have plans for a massive hydroelectric plant that should come online in 2024.

Decarbonizing Energy

Renewable energy is considered essential to reduce global warming and CO2 emissions.

In line with the efforts by each state to build new renewable installations, the Biden administration has set a goal of achieving a carbon pollution-free power sector by 2035 and a net zero emissions economy by no later than 2050.

The EIA forecasts the share of U.S. electricity generation from renewable sources rising from 22% in 2022 to 23% in 2023 and to 26% in 2024.

The post Mapped: Renewable Energy and Battery Installations in the U.S. in 2023 appeared first on Visual Capitalist.

Published

2 months ago

on

May 29, 2023

By

Tessa Di Grandi

Graphics & Design

• Zack Aboulazm

LFP Batteries for Electric Vehicles

Even though the technology behind EVs has evolved significantly over the past decade, batteries have always been a critical component. 

Lithium iron phosphate (LFP) batteries are becoming an increasingly popular choice for standard-range EVs, with major automotive producers like Tesla and Ford introducing LFP-powered vehicles into their catalog. 

In this infographic, our sponsor First Phosphate highlights the advantages of using LFP cathode batteries in EVs.

Benefit 1: Safety

LFP batteries are among the safest types of lithium-ion batteries, with a low risk of overheating and catching fire.

These batteries are less prone to thermal runaway and do not release oxygen if they catch fire, making them safer than other lithium-ion batteries.

Benefit 2: Long Life Cycle

LFP batteries have a longer lifespan than other types of lithium-ion batteries due to their low degradation rate. Meaning they can be charged quickly without significant battery damage, therefore leading to a longer lifespan.

LFP batteries can also withstand a larger number of charge and discharge cycles, meaning they can last longer before needing to be replaced.

Benefit 3: Cost-Effective

The materials used to produce LFP batteries are also relatively cheap compared to other types of lithium-ion batteries.

The main cathode materials used in LFP batteries are iron and phosphate, and they are in relative abundance in contrast to other battery metals. This makes them a cost-effective option for a variety of energy storage applications.

Benefit 4: Environmentally Sustainable

LFP batteries are environmentally sustainable because they are non-toxic and do not contain harmful heavy metals such as cobalt or nickel.

The materials used in these batteries are easier to source ethically, which makes them a more sustainable option than other types of lithium-ion batteries.

What’s Inside the Battery?

Most EVs utilize battery packs consisting of multiple individual battery cells. Similar to other types of lithium-ion batteries, LFP battery cells are made up of several components.

Cathode	43%
Anode	31%
Electrolyte	20%
Cell Container	4%
Separator	2%

The cathode is the battery’s positive electrode and impacts its performance. It determines aspects such as energy capacity, charging and discharging speed, and the risk of combustion.

In LFP batteries, the cathode composition consists of three elements.

Phosphate	61%
Iron	35%
Lithium	4%

Today, these batteries are becoming increasingly popular in standard-range EV models. LFP market share has significantly increased, reaching its highest share in the past decade at 30% of the market in 2022, according to the International Energy Agency (IEA).

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the LFP battery industry.

Click here to download First Phosphate’s Investor Deck now.

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Related Topics: #lithium ion batteries #evs #LFP Batteries #Lithium Iron Phosphate Batteries #First Phosphate #batteries

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The post 4 Benefits of LFP Batteries for EVs appeared first on Visual Capitalist.

Used minimally in glazing and ceramics, uranium was originally mined as a byproduct of producing radium until the late 1930s. However, the discovery of nuclear fission, and the potential promise of nuclear power, changed everything.

What’s the current state of the uranium mining industry? This series of charts from Truman Du highlights production and the use of uranium using 2021 data from the World Nuclear Association (WNA) and Our World in Data.

Who are the Biggest Uranium Miners in the World?

Most of the world’s biggest uranium suppliers are based in countries with the largest uranium deposits, like Australia, Kazakhstan, and Canada.

The largest of these companies is Kazatomprom, a Kazakhstani state-owned company that produced 25% of the world’s new uranium supply in 2021.

As seen in the above chart, 94% of the roughly 48,000 tonnes of uranium mined globally in 2021 came from just 13 companies.

Rank	Company	2021 Uranium Production (tonnes)	Percent of Total
1	Kazatomprom	11,858	25%
2	Orano	4,541	9%
3	Uranium One	4,514	9%
4	Cameco	4,397	9%
5	CGN	4,112	9%
6	Navoi Mining	3,500	7%
7	CNNC	3,562	7%
8	ARMZ	2,635	5%
9	General Atomics/Quasar	2,241	5%
10	BHP	1,922	4%
11	Energy Asia	900	2%
12	Sopamin	809	2%
13	VostGok	455	1%
14	Other	2,886	6%
Total		48,332	100%

France’s Orano, another state-owned company, was the world’s second largest producer of uranium at 4,541 tonnes.

Companies rounding out the top five all had similar uranium production numbers to Orano, each contributing around 9% of the global total. Those include Uranium One from Russia, Cameco from Canada, and CGN in China.

Where are the Largest Uranium Mines Found?

The majority of uranium deposits around the world are found in 16 countries with Australia, Kazakhstan, and Canada accounting for for nearly 40% of recoverable uranium reserves.

But having large reserves doesn’t necessarily translate to uranium production numbers. For example, though Australia has the biggest single deposit of uranium (Olympic Dam) and the largest reserves overall, the country ranks fourth in uranium supplied, coming in at 9%.

Here are the top 10 uranium mines in the world, accounting for 53% of the world’s supply.

Of the largest mines in the world, four are found in Kazakhstan. Altogether, uranium mined in Kazakhstan accounted for 45% of the world’s uranium supply in 2021.

Uranium Mine	Country	Main Owner	2021 Production
Cigar Lake	Canada	Cameco/Orano	4,693t
Inkai 1-3	Kazakhstan	Kazaktomprom/Cameco	3,449t
Husab	Namibia	Swakop Uranium (CGN)	3,309t
Karatau (Budenovskoye 2)	Kazakhstan	Uranium One/Kazatomprom	2,561t
Rössing	Namibia	CNNC	2,444t
Four Mile	Australia	Quasar	2,241t
SOMAIR	Niger	Orano	1,996t
Olympic Dam	Australia	BHP Billiton	1,922t
Central Mynkuduk	Kazakhstan	Ortalyk	1,579t
Kharasan 1	Kazakhstan	Kazatomprom/Uranium One	1,579t

Namibia, which has two of the five largest uranium mines in operation, is the second largest supplier of uranium by country, at 12%, followed by Canada at 10%.

Interestingly, the owners of these mines are not necessarily local. For example, France’s Orano operates mines in Canada and Niger. Russia’s Uranium One operates mines in Kazakhstan, the U.S., and Tanzania. China’s CGN owns mines in Namibia.

And despite the African continent holding a sizable amount of uranium reserves, no African company placed in the top 10 biggest companies by production. Sopamin from Niger was the highest ranked at #12 with 809 tonnes mined.

Uranium Mining and Nuclear Energy

Uranium mining has changed drastically since the first few nuclear power plants came online in the 1950s.

For 30 years, uranium production grew steadily due to both increasing demand for nuclear energy and expanding nuclear arsenals, eventually peaking at 69,692 tonnes mined in 1980 at the height of the Cold War.

Nuclear energy production (measured in terawatt-hours) also rose consistently until the 21st century, peaking in 2001 when it contributed nearly 7% to the world’s energy supply. But in the years following, it started to drop and flatline.

By 2021, nuclear energy had fallen to 4.3% of global energy production. Several nuclear accidents—Chernobyl, Three Mile Island, and Fukushima—contributed to turning sentiment against nuclear energy.

Year	Nuclear Energy Production	% of Total Energy
1965	72 TWh	0.2%
1966	98 TWh	0.2%
1967	116 TWh	0.2%
1968	148 TWh	0.3%
1969	175 TWh	0.3%
1970	224 TWh	0.4%
1971	311 TWh	0.5%
1972	432 TWh	0.7%
1973	579 TWh	0.9%
1974	756 TWh	1.1%
1975	1,049 TWh	1.6%
1976	1,228 TWh	1.7%
1977	1,528 TWh	2.1%
1978	1,776 TWh	2.3%
1979	1,847 TWh	2.4%
1980	2,020 TWh	2.6%
1981	2,386 TWh	3.1%
1982	2,588 TWh	3.4%
1983	2,933 TWh	3.7%
1984	3,560 TWh	4.3%
1985	4,225 TWh	5%
1986	4,525 TWh	5.3%
1987	4,922 TWh	5.5%
1988	5,366 TWh	5.8%
1989	5,519 TWh	5.8%
1990	5,676 TWh	5.9%
1991	5,948 TWh	6.2%
1992	5,993 TWh	6.2%
1993	6,199 TWh	6.4%
1994	6,316 TWh	6.4%
1995	6,590 TWh	6.5%
1996	6,829 TWh	6.6%
1997	6,782 TWh	6.5%
1998	6,899 TWh	6.5%
1999	7,162 TWh	6.7%
2000	7,323 TWh	6.6%
2001	7,481 TWh	6.7%
2002	7,552 TWh	6.6%
2003	7,351 TWh	6.2%
2004	7,636 TWh	6.2%
2005	7,608 TWh	6%
2006	7,654 TWh	5.8%
2007	7,452 TWh	5.5%
2008	7,382 TWh	5.4%
2009	7,233 TWh	5.4%
2010	7,374 TWh	5.2%
2011	7,022 TWh	4.9%
2012	6,501 TWh	4.4%
2013	6,513 TWh	4.4%
2014	6,607 TWh	4.4%
2015	6,656 TWh	4.4%
2016	6,715 TWh	4.3%
2017	6,735 TWh	4.3%
2018	6,856 TWh	4.2%
2019	7,073 TWh	4.3%
2020	6,789 TWh	4.3%
2021	7,031 TWh	4.3%

More recently, a return to nuclear energy has gained some support as countries push for transitions to cleaner energy, since nuclear power generates no direct carbon emissions.

What’s Next for Nuclear Energy?

Nuclear remains one of the least harmful sources of energy, and some countries are pursuing advancements in nuclear tech to fight climate change.

Small, modular nuclear reactors are one of the current proposed solutions to both bring down costs and reduce construction time of nuclear power plants. The benefits include smaller capital investments and location flexibility by trading off energy generation capacity.

With countries having to deal with aging nuclear reactors and climate change at the same time, replacements need to be considered. Will they come in the form of new nuclear power and uranium mining, or alternative sources of energy?

The post Visualizing the Uranium Mining Industry in 3 Charts appeared first on Visual Capitalist.