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Tuesday, August 16, 2022 12:12:58 PM
https://www.reuters.com/markets/commodities/us-hits-ev-accelerator-cut-chinese-metals-ties-2022-08-16/
"But make no mistake. This EV subsidy scheme marks another big movement in the reshaping of critical mineral supply chains."
"It should be a boom time for North America's mining and processing industry."
"To promote the national defense, the United States must secure a reliable and sustainable supply of such strategic and critical materials," said President Biden, All are used in batteries, and the United States relies on imports for all of them, often from what Biden termed "unreliable foreign sources".
"The Administration has already committed up to $3 billion to increase battery metals production thanks to last year's infrastructure bill. That was passed with bi-partisan support, and minerals security is one of the few areas of political agreement between Democrats and Republicans, which may open the door on further money being allocated to the sector."
"President Biden's lithium echo of Truman's steel warning tells you they're rapidly returning to centre stage."
"Such huge U.S. government investment in mining and metals processing hasn't been seen since the Second World War and the Biden Administration has invoked a relic of the Korean War - the Defense Production Act - to stimulate it further."
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