According to US President Joe Biden, $2 has been set aside. As part of the nation’s efforts to lessen reliance on Chinese supply, the US has received a grant of $8 billion to increase the production of electric automobiles and the minerals used in their manufacturing.
The US Department of Energy will award grants to 20 manufacturing and processing businesses for local lithium, graphite, and nickel mining, the construction of the first large-scale leanium processing facility in the US, the establishment of facilities for the manufacture of cathodes and other battery components, and the expansion of battery recycling.
A senior management figure explained the idea to reporters, saying, “As the globe transitions from fossil fuels to a renewable energy -powered economy, we cannot trade dependency on oil from Putin to relying on vital minerals from China.”
A number of businesses will receive financing, some of which are able to finance projects on their own while others use grants as a way to expand their American ambitions. Despite this, funding will not be able to solve the regulatory issues that some people in the mining industry face.
Bidmont will receive $ 141 million to establish a lithium processing factory in Tennessee, where the business would initially treat the metal acquired from Ghana and Quebec, whereas Albimarel will receive $ 149 million to develop a new factory in North Carolina to treat lithium rocks.
Regarding Talon, which has an agreement with Tesla to provide nickel, you will receive $ 114 million to establish a treatment factory in North Dakota as part of a strategic transformation of the business. According to Reuters, Talon’s spokesman acknowledged Talon’s satisfaction with Biden’s choice by saying, “The awards are a clear recognition that the production of local nickels and minerals for other batteries represents a national priority.
The private company Ascend Elements will receive 316 million dollars to construct a battery factory, as well as 50 million dollars for a private sector-owned company called Lilac to build a test facility for so-called direct lithium extraction methods, 75 million dollars for Separa Private Company, and 219 million dollars for Syrah to expand its Louisiana graphite processing facility.
American factories will receive $2.8 billion to lessen their reliance on China.
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