Fortune Minerals Limited. T.FT

Automakers need more time to meet U.S. minerals requirements

[Allman]

The pressure is on for automakers to align with the US' IRA. Some of them must be interested in FT's cobalt.

“I don’t think that you can transform the mineral production and extraction within the next two to three years,” Di Si said on Wednesday in Detroit. “You cannot change the sources from Congo, China and other places within two to three years.”

VW America’s chief purchasing officer, Inga von Seelen, said on Tuesday at the Reuters conference that the German automaker has to source battery materials from where they are available.

VW has a supply agreement for batteries from an SK Innovation plant in the U.S. state of Georgia and in August struck a battery materials cooperation agreement with mineral-rich Canada in a move to secure access to lithium, nickel and cobalt.

https://financialpost.com/pmn/business-pmn/automakers-need-more-time-to-meet-u-s-minerals-requirements-for-evs-execs-2

[Unlurker]

Which begs the question... what does it even mean for VW to strike a deal with "Canada"? It's not "Canada" that will be mining and processing minerals. And what would Canada gain by such an agreement?   Why hasn't anyone struck a deal with the guys that actually have the minerals? It's truly mind boggling.

[elitespooner]

VW tried 5 years ago, https://www.reuters.com/article/us-volkswagen-cobalt-idUSKBN1DR1ZL

[Wallyneptune]

Spoon Great to have you back a lot of the boys on the board have missed you Wally

[elitespooner]

Thanks Wally, Looks as though I havent missed much ...

[sirfartalot]

All in my humble opinion: Elitespinner, you're back! ... with the persistent subtle negative bash tone. Good things coming when the bashers reappear ? Good luck to all longs, We wait ...

[elitespooner]

ohh back to the name calling, missed the intelligence of this Fortune board !

[Jim1712]

Likely a big move up in the share price. The Spoon is in the building.  Jim 

[red]

If that's all it takes ....bring it on, more please!  we know trillions being planned to be spent and may be the tip of the melting iceberg and we know the iceberg is melting, while we look for what? 700 million? Peanuts in this big picture.  Some 300 new mines required, we know that ain't happening any time soon simply because there are not that manny new sources let alone