product development , production capacity development , is over $ 300bn in the next 10 years .”
At a time of global transformation what other trends across the mining panorama will companies like TechMet need to respond to ? “ On-grid and off-grid battery storage to facilitate the next phase of renewable energy will grow sharply in the coming years ,” predicts Menell , noting lithium-ion batteries are likely to be replaced by vanadium redox flow batteries and other alternative systems , creating another demand driver for metals companies like TechMet who mine , process and recycle . “ Renewable energy systems themselves , such as wind turbines , will also drive demand for polar magnets and electric motors across those systems ,” he adds . “ Meanwhile , automation and robotics will boost demand for a number of minor and particularly rare earth metals as disruptive and globally transformative technological evolutions gather pace .”
Before we scale the heights of massive value creation in meeting EV industry targets for 2030 , what are Menell ’ s predictions for market growth
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