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With Prices Low, China Moves Quickly to Secure Supplies of Critical Metals

The year-long plunge in the prices of critical materials used to manufacture electric vehicle batteries, namely nickel, cobalt, and lithium, is destroying the bottom lines of Western mining companies.

Mining companies in Australia, Canada, and several European countries are laying off thousands of workers due to a massive oversupply in the market. This oversupply has kept prices low for months and shows no signs of easing anytime soon.

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