A major Russian mining corporation announced Tuesday its plans to finalize development of a palladium-powered catalyst for lithium-sulphur batteries used in electric vehicles, targeting completion within the next three years.
Nornickel, which produces approximately 40% of the world’s palladium supply, believes this innovation could solve a critical problem with lithium-sulphur battery technology. While these batteries theoretically provide greater energy storage capacity and cost less than current lithium-ion versions, they haven’t reached widespread commercial use because they wear out too quickly.
The company’s research focuses on dramatically improving the durability of lithium-sulphur batteries, aiming to achieve more than 1,000 charge cycles before replacement becomes necessary.
“I think this is a three-year horizon for us to further refine the technology so that it can compete with existing solutions. Overall, lithium-sulphur technologies look quite promising in terms of energy density (driving range),” stated Nornickel Vice President Vitaly Busko.
Should the research prove effective, the mining company projects it would “open up huge new markets for palladium,” with projected annual demand reaching at least 1.5 million ounces.
The corporation recently established a specialized palladium research facility in Moscow, dedicated to finding alternative uses for the metal beyond traditional automotive catalysts in gasoline-powered vehicles, which currently represent over 80% of worldwide palladium consumption.
Nornickel has committed $100 million to an initiative designed to generate approximately 1.7 million troy ounces of additional yearly palladium demand between 2030 and 2035. This strategy aims to compensate for anticipated decreases in traditional demand as electric vehicle adoption increases. The company has already identified a short-term commercial opportunity in China’s fiberglass manufacturing sector.
