Everybody wants to own the future nothing symbolises the future more than electric vehicles.

Resource rich nations – including Australia – desire to not only dig up the stuff which goes into these automobiles but also of move up the value chain to have a major part in building key parts of them.

Australia is well positioned, being gifted with the materials that go into EVs, but there are plenty of hurdles to clear if it is to reach that goal of being a central part of the manufacturing process. The country has plenty of nickel, copper, lithium and cobalt - what it lacks is the processing capacity to turn these into EV batteries.

According to ANZ’s senior commodity strategist Daniel Hynes this will take a lot of investment.