Andrew Forrest and critical minerals producer IGO Limited have flagged a plan to take Australia further down the battery value chain by constructing a processing plant that would mix nickel, cobalt and manganese to make a “precursor” material for the cathodes in modern batteries.

The plan to make “precursor” materials for the batteries that power electric vehicles is a corporate manifestation of the Albanese government’s dream for Australia to own more of the global battery manufacturing value chain and is a shot across the bow at BHP’s nickel division.