BRAZI AZILIAN AN N NICKEL DON’T FORGET THE NICKEL A SUPPL Y CHAIN ANAL YSIS 1 AABC Europe 2018
Disclaimer BRAZI AZILIAN AN N NICKEL 2 AABC Europe 2018
Simplified Nickel Market Supply Chain - today BRAZI AZILIAN AN N NICKEL Fe Ni 400 kt Class 2 NPI Laterite Stainless Total Supply 2.1 M t Total demand 2.15 M t 560 kt Supply Steel 1.4 M t 1.45 Mt Intermediates 300 kt Ni Powders & Briquettes Matte ~ 350 kt Alloys, 750 kt Sulphide plating etc ~ 500 kt Supply Ni Metal 700 kt EV Batteries ~ 50 kt Other 150 kt Source : Roskill, Wood Mackenzie, WBMS, BRN AABC Europe 2018 3
Simplified Nickel Market Supply Chain 2025 BRAZI AZILIAN AN N NICKEL Fe Ni 470 kt Stainless Class 2 Steel Total Supply 2.3 M t Laterite NPI Total demand 2.85 M t 1.75 Mt Supply 790 kt 1.7 M t Intermediates 350 kt Ni Powders & Briquettes Alloys, Matte ~ 350 kt Sulphide plating etc 650 kt ~ 530 kt Supply 600 kt EV Ni Metal Batteries ~ 400 kt Other 170 kt Source : Roskill, Wood Mackenzie, UBS, Mckinsey, Bank of America, BRN AABC Europe 2018 4
Simplified Nickel Market Supply Chain 2025 BRAZI AZILIAN AN N NICKEL Fe Ni 470 kt Stainless Class 2 Steel Total Supply 2.3 M t Laterite NPI Total demand 2.85 M t 1.75 Mt Supply 790 kt 1.7 M t Intermediates 350 kt Ni Powders & Briquettes Alloys, Matte ~ 350 kt Sulphide plating etc 650 kt ~ 530 kt Supply 600 kt EV Ni Metal Batteries ~ 400 kt Other 170 kt Source : Roskill, Wood Mackenzie, UBS, Mckinsey, Bank of America, BRN AABC Europe 2018 5
Simplified Nickel Market Supply Chain 2030 BRAZI AZILIAN AN N NICKEL Refinery capacity = 3.45 Mt Fe Ni 430 kt Class 2 Stainless Steel NPI Total Supply 1.85 M t Laterite 1.85 Mt 660 kt Total demand 3.42 M t Supply 1.45 M t Intermediates 350 kt Ni Powders & Alloys, Briquettes Matte Sulphide ~ 350 kt plating etc 500 kt Supply ~ 650 kt 450 kt Ni Metal EV Batteries ~ 750 kt Other 170 kt Source : Roskill, Wood Mackenzie, UBS, Mckinsey, Bank of America, BRN AABC Europe 2018 6
Simplified Nickel Market Supply Chain 2030 BRAZI AZILIAN AN N NICKEL Most Possible Projects into Production Fe Ni 500 kt Class 2 Stainless Steel NPI Laterite 1.85 Mt Total demand 3.42 M t Total Supply 3.2 M t 800 kt Supply 2.2 M t Intermediates 800 kt Ni Powders & Alloys, Briquettes ~ 500 kt plating etc Matte ~ 650 kt 1.1 Mt Sulphide Supply Ni Metal EV 1 M t Batteries ~ 750 kt Refinery capacity = 3.45 Mt Other 170 kt Source : Roskill, Wood Mackenzie, UBS, Mckinsey, Bank of America, BRN AABC Europe 2018 7
Brazilian Nickel & The Piauí Nickel Project BRAZI AZILIAN AN N NICKEL AABC Europe 2018 PNP Demonstration Plant 8
PNP Plans BRAZI AZILIAN AN N NICKEL Nickel Hydroxide Product containing 50% nickel (dry basis) PNP1000 PNP1000 PNP1000 Construction Production Start Decommission Q2 2018 Q2 2019 Q1 2021 Full Ramp-up Production Q4 2021 Start BFS BFS Published Financing Start Q2 2018 Q2 2019 Complete Production Q3 2019 Q1 2021 Product Mix • Two high purity intermediate products to be produced o Nickel Hydroxide Product (NHP) and o Cobalt Hydroxide Product (CHP) • NHP suitable for EV battery market as well as stainless steel and other traditional nickel uses • CHP similarly suited to the battery market and other uses 9 AABC Europe 2018
Conclusions – Nickel in the Longer-term BRAZI AZILIAN AN N NICKEL Nickel demand for Li-ion batteries could add at least 400,000 tpa to annual nickel demand by 2025 The industry is just not structured to meet that demand, being historically focussed on stainless steel, some SS feed could be redirected to EV batteries. While there is sufficient global refining capacity available to meet increased Ni chemical demand… Supply of ore, or intermediates, to these plants is severely lacking today and there appear to be insufficient new projects in the pipeline to meet that demand Battery nickel precursors such as BRN’s NHP can help supply the new demand, as long as funding is available for project development. Please remember that mining projects take at least 10 years to production AABC Europe 2018 10
BRAZI AZILIAN AN N NICKEL Thank y you 11
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