Solid-state batteries could change the mining landscape

Solid-state batteries, the latest advancement in energy storage, are set to revolutionise supply chains, with significant benefits for the mining industry.

Expected to reach a global market value of over $13 billion by 2030, according to Precedence Research, solid-state batteries use a solid electrolyte instead of the liquid or gel used in lithium-ion batteries.

This innovation promises higher energy density, longer life, and improved safety, creating lucrative opportunities for miners of key materials.

The shift to solid-state batteries brings increased demand for materials like lithium, nickel, and cobalt, as well as emerging elements like lithium metal and sulfide-based compounds used in the solid electrolyte.

Analysts project that lithium demand could grow nearly fourfold by 2030, driven by its role in solid-state and traditional batteries.

This heightened demand encourages mining companies to invest in new projects, creating openings for lithium miners in countries like Australia, the world’s largest lithium producer, to expand operations and meet demand from EVs, energy storage, and electronics sectors.

Solid-state batteries also benefit miners of rare earth elements and other advanced materials.

With automakers like Toyota, which plans to commercialise solid-state EV batteries, requiring these minerals means mining companies have fresh incentives to explore and develop deposits.

This push for new materials could drive a diversification of supply chains, where miners supply increasingly specific components tailored to the solid-state sector.

For miners, this could mean a rise in high-margin, specialised supply agreements with manufacturers, who prioritise quality and reliability for solid-state components.

In addition to raw material demands, solid-state batteries bring logistical and cost advantages that indirectly benefit mining operations.

Due to their enhanced thermal stability, solid-state batteries present fewer shipping and storage risks than lithium-ion cells, which are prone to overheating.

With fewer safety regulations in transit, these batteries could reduce transportation costs across the battery supply chain, benefiting miners who often ship lithium and other materials globally.

As the global battery market shifts, companies positioned to supply materials for solid-state technology will gain a competitive edge, establishing secure, high-value supply agreements and driving a new era of growth in the mining industry.