Nickel up9 Mar 2021 18:56
Tesla has decided to become a technical partner in a nickel mine - which is needed for lithium-ion batteries that power electric cars.
Elon Musk's car firm will also buy nickel from the Goro mine on the small Pacific island of New Caledonia to secure its long-term supply.
The move comes amid growing concerns about future supplies of nickel.
New Caledonia is the world's fourth largest nickel producer, which has seen a 26% rally in prices in the past year.
"Nickel is our biggest concern for scaling lithium-ion cell production," Musk said on Twitter last month.