Post by
Jim1712 on Mar 14, 2024 4:25pm
The USA is getting serious.
| BNN Bloomberg - March 13, 2024 The Biden administration is offering a $2.26 billion loan to help Lithium Americas Corp. develop a Nevada lithium deposit that’s the country’s largest…The conditional loan from the US Department of Energy will provide the vast majority of the capital needed to fund the first phase of development…The size of the investment in a company that’s little-known outside the industry underscores the urgency the Biden administration feels around securing supplies of the metal that’s key to the energy transition. The funding being offered to the company’s Lithium Nevada Corp. subsidiary by the Energy Department will help finance construction of a lithium carbonate processing plant…The funding, the largest-ever loan to a mining company from the DOE’s Loan Programs Office, comes amid mounting efforts to help build domestic supplies of critical minerals…The Loan Programs Office has more than $400 billion to spend following an infusion of cash from President Joe Biden’s signature climate law…“We are fighting back to get every piece of the supply chain back in the United States or with our allies,” Granholm said. | |
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