RTTNews | Jul 21, 2021 10:28PM EDT

22:27 Wednesday, July 21, 2021 (RTTNews.com) - BHP (BHP.AX, BLT.L, BBL, BHP) said it has signed a deal with Tesla Inc. (TSLA) to supply the nickel needed in the electric car maker's batteries.

BHP will supply Tesla with nickel from its Nickel West asset in Western Australia. Nickel is a key metal used to manufacture Tesla's battery technology.

BHP Chief Commercial Officer, Vandita Pant, said: "Demand for nickel in batteries is estimated to grow by over 500 per cent over the next decade, in large part to support the world's rising demand for electric vehicles."

In addition, BHP and Tesla will collaborate on ways to make the battery supply chain more sustainable, with a focus on end-to-end raw material traceability using blockchain; technical exchange for battery raw materials production; and promotion of the importance of sustainability in the resources sector, including identifying partners who are most aligned with BHP and Tesla 's principles and battery value chains.

BHP said it will also collaborate with Tesla on energy storage solutions to identify opportunities to lower carbon emissions in their respective operations through increased use of renewable energy paired with battery storage.

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