Tesla to buy more than $1 bln of Australian battery minerals a year

The U.S. will then focus on processing those metals domestically into battery parts, part of a strategy designed to placate environmentalists, two administration officials with direct knowledge told Reuters last month.

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Tesla said it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices. Robyn Denholm, chair of the U.S. carmaker, said on Wednesday that Australia, which is rich in minerals used for batteries like lithium and nickel, is poised to benefit as developing supply chains for electric vehicle batteries and the green energy age focus on environmental, social and governance (ESG).