Taps Coogan – March 15th, 2022

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With most of the attention vis-a-vis Russian sanctions being focused on oil and gas, and to a lesser extent wheat, the following chart highlights Russia’s heavy presence in palladium, platinum, and nickel production, from Bank of America via Isabelnet.

Palladium, platinum, copper, and nickel are all key metals for batteries, solar panels, catalytic converts, fuel cell membranes, and other technologies vital to renewable power, electric cars, hydrogen, and grid-scale batteries.

As we frequently note, it has become practically impossible to secure permits for large mining projects and related infrastructure in the US under the current administration (here, here, here, here, here, here, etc…). It’s part of the cognitive dissidence of the modern ‘green’ movement, which seeks to pivot to renewables while simultaneously blocking the mines that supply all of the metals and materials needed to do so, ensuring higher prices, slowing the adoption of renewables, and moving mine production to countries with lower environmental and labor standards, and in many cases, to geopolitical rivals that create economic and national security vulnerabilities.

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