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Wednesday, June 29, 2022 6:23:05 PM
miners (including General Motors Co & Stellantis NV) in the Salton Sea California Lithium tax would delay shipments to automakers, executives warn.
Eric Spomer, chief executive of privately held EnergySource Minerals LLC, told Reuters his company has halted discussions with potential financiers and a major automaker he declined to identify while California's legislature debates the tax. "This tax would stifle our industry before it even begins," he said. "We're willing to pay and contribute to the local community, but it has to be a rational tax." The tax, which would affect the three Salton Sea-area lithium developers, is tied to a must-pass state budget proposal. A vote may come as soon as Wednesday night and Governor Gavin Newsom, a Democrat, has signaled his support.
314 gigafactories under construction https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169276449 ... and everyone imagines there is a lithium tooth fairy who will magically deliver the raw lithium to them in 2025. Whew, these naive dummies are in for a rude awakening.
The Doctor
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