S Korean batt makers struggling to reduce reliance on China Sounds like the Koreans are moving towards US IRA compliance, but are no where nears the level of investments that need to happen re. article posted in FT newsroom. Much more investment yet to come. It's awfully quiet out there but the macro still looks very promising for FT's NICO deposit. For that matter quiet means that the Fed's are convening one-on-one forums with the prov/terr. to ensure top regional priorities and projects are identified and funding directed towards these - and we know NICO is a NWT priority. So much real potential to get NICO up and running - it's just going to take a bit longer than we had hoped.
"Domestic manufacturers of electric vehicle batteries have made little progress in reducing their reliance on China for core materials, casting a dark cloud over exports of their products to the United States which discriminates against batteries made of Chinese materials under the Inflation Reduction Act (IRA). ...
The KITA (Korea International Trade Association) said in a report last month that the country needs to revive its overseas resources development support projects, urging the government to push for multilateral pacts with major resources exporting countries to secure key materials for the manufacture of not only batteries, but also semiconductors and other high-tech products."
https://www.ajudaily.com/view/20230125144242531