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Critical Elements Lithium Corp V.CRE

Alternate Symbol(s):  CRECF

Critical Elements Lithium Corporation is a Canada-based lithium exploration company. The Company is engaged in the acquisition, exploration, development and processing of critical minerals mining properties in Canada. Its projects include Rose Lithium-Tantalum, Rose North, Rose South, Arques, Bourier, Dumulon, Duval, Nisk, Lemare, Caumont, and Valiquette. The Rose Lithium-Tantalum property consists of over 473 claims covering a total area of over 24.99 square kilometers (km2). It lies in the northeastern part of Superior Province, within the Eastmain greenstone belt. The Rose North property consists of about 31 claims covering a total area of over 16.14 km2. The Arques Property is composed of one block totaling around 136 claims covering an area of 6,840.93 hectares (ha) over 18 kilometers (kms) in length in a Southwest-Northeast direction. Bourier Property is comprised of over 304 claims with an area of 15,616.47 ha for over 30 kms. Rose South property consists of over 280 claims.


TSXV:CRE - Post by User

Post by BluePillon May 25, 2021 9:11am
178 Views
Post# 33258913

Biden looks abroad for electric vehicle metals, in blow to U

Biden looks abroad for electric vehicle metals, in blow to U
Welcome to the Reuters.com BETA. Read our Editor's note on how we're helping professionals make smart decisions. May 25, 20216:33 PM +07 Energy Biden looks abroad for electric vehicle metals, in blow to U.S. miners Trevor HunnicuttErnest Scheyder 5 minute read Electric cars sit charging in a parking garage at the University of California, Irvine January 26, 2015. REUTERS/Lucy Nicholson U.S. President Joe Biden delivers remarks after touring Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., May 18, 2021. REUTERS/Leah Millis/File Photo U.S. President Joe Biden bumps fists with workers after touring Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., May 18, 2021. REUTERS/Leah Millis 1/5 U.S. President Joe Biden delivers remarks after touring Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., May 18, 2021. REUTERS/Leah Millis/File Photo U.S. President Joe Biden will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on processing them domestically into battery parts, part of a strategy designed to placate environmentalists, two administration officials with direct knowledge told Reuters. The plans will be a blow to U.S. miners who had hoped Biden would rely primarily on domestically sourced metals, as his campaign had signaled last autumn, to help fulfill his ambitions for a less carbon-intensive economy. Rather than focus on permitting more U.S. mines, Biden's team is more focused on creating jobs that process minerals domestically into electric vehicle (EV) battery parts, according to the people. Such a plan would help cut U.S. reliance on industry leader China for EV materials while also enticing unions with manufacturing work and, in theory, reduce pandemic-fueled unemployment. The U.S. Commerce Department is organizing a June conference to attract more EV manufacturing to the country. Bidens proposed $1.7 trillion infrastructure plan earmarks $174 billion to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives. The department declined to comment. "It's not that hard to dig a hole. What's hard is getting that stuff out and getting it to processing facilities. That's what the U.S. government is focused on," said one of the sources. The approach would see the United States rely on Canada, Australia, and Brazil - among others - to produce most of the critical raw materials needed, while it competes for higher-value jobs turning those minerals into computer chips and batteries, according to the two sources. Securing the full supply chain from metals to batteries does not require the United States to be the primary producer of the raw materials, said one of the sources. A full strategy will be finalized after a year-long supply chain review involving national security and economic development officials. Biden officials want to ensure the administration's EV aspirations are not imperiled as domestic mines face roadblocks, the sources said, both from environmentalists and even some Democrats. It rings hollow when I hear everyone use this as a national defense argument, that we have to build new mines to have a greener economy, said U.S. Representative Betty McCollum, a Democrat who has introduced legislation that would permanently block Antofagasta Plcs (ANTO.L) proposed Twin Metals copper mine in Minnesota. Ali Zaidi, deputy White House national climate advisor, said the administration was focused on a strategy that "leverages our domestic resources in a way that's responsible", noting that included recycling in the supply chain. While U.S. projects from small and large miners alike will feel the impact, the pain from any blocked projects will fall disproportionately on smaller, U.S.-focused companies. Many large miners also have global projects that could benefit from the administration's plan. "We can no longer push the production of the products we want to places we cannot see and to people we will never meet," said Mckinsey Lyon of Perpetua Resources Corp (PPTA.TO), which is trying to develop Idaho's Stibnite mine to produce gold and antimony used to make EV battery alloys. INVESTMENTS The U.S. government in April became the largest shareholder in mining investment firm TechMet, which controls a Brazilian nickel project, a Rwandan tungsten mine and is a major investor in a Canadian battery recycler. Washington also funds research into Canadian cobalt projects and rare earths projects in Malawi, among other international investments. The State Department's Energy Resource Governance Initiative (ERGI) is one of the main programs Washington plans to use to help allies discover and develop lithium, cobalt and other EV metals. To be sure, Washington is not ignoring domestic mining. The U.S. Department of Energy has awarded grants to help old coal mines find ways to produce rare earths. U.S. officials have also funded MP Materials Corp (MP.N), which owns the country's only rare earths mine, though it relies on Chinese processors. But the bulk of Biden's approach is designed to sidestep battles with environmentalists and save capital for other fights, according to one administration source. During a visit to a Ford Motor Co (F.N) plant in Michigan on May 18, Biden called for government grants for new EV battery facilities. He mentioned Australias lithium reserves during the tour, but not large U.S. supplies of the key battery mineral. Republicans say Biden's EV plans will be impossible to achieve without more U.S. mines. "These 'not-in-my-backyard' extremists have made clear they want to lock up our land and prevent the mining of minerals," U.S. Representative Lauren Boebert, a Colorado Republican, told a House Natural Resources Committee forum held the same day as Biden's Michigan visit. PLACATING LABOR Biden's approach comes with risks, including angering political supporters within the labor movement who want the administration to have an openness to resource extraction and the attendant jobs. Lets let Americans extract these minerals from the earth, said Aaron Butler of United Association Local 469 union, which does work for Rio Tinto Ltds (RIO.AX) proposed Resolution copper mine project in Arizona and endorsed Biden in the elections. These are good-paying jobs. Many of the skills that labor unions would use to build mines, including concrete and electrical work, can also be used to build EV metal processing plants. The National Mining Association, an industry trade group, has been lobbying the White House and Congress to support domestic projects, arguing that the coronavirus pandemic showed the importance of localizing supply chains. Biden's White House is now quietly working to enlist labor support as it tries to build a case that its green policies are creating jobs, ahead of the 2022 midterm elections that could determine whether the strategy wins congressional backing, according to two organized labor sources familiar with the campaign Biden officials have reached out to unions across the country asking for specific job-boosting projects the administration can take credit for, the labor sources said. Our Standards: The Thomson Reuters Trust Principles. Read Next Energy Paluel 3 reactor offline due to strike 7:58 PM +07 Energy EXCLUSIVE JX Nippon seeks $1.5 bln for UK North Sea oil, gas fields - sources 7:56 PM +07 Energy Suez Canal Authority says door still open to negotiation with container ship owner 7:21 PM +07 United Kingdom UK declines to rule out new oil exploration despite climate report 6:52 PM +07 Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Energy Energy 7:37 PM +07 Oil near one-week high as prospect of Iran glut wanes Oil prices slipped on Tuesday, but were near one-week highs after jumping more than 3% the previous session as investors tempered expectations of an early return of oil exporter Iran to international crude markets. Energy Biden looks abroad for electric vehicle metals, in blow to U.S. miners 6:33 PM +07 Energy China looks to ocean for cheaper way of cooling power-hungry data centres 5:35 PM +07 Energy EU leaders tussle over emissions target in climate change talks 5:39 PM +07 Energy Russia offers cooperation with Saudi Arabia on hydrogen production -Novak 6:57 PM +07 Latest Home Media Videos Pictures Graphics Browse World Business Markets Breakingviews Technology Investigations Lifestyle About Reuters About Reuters Careers Reuters News Agency Brand Attribution Guidelines Reuters Leadership Reuters Fact Check Reuters Diversity Report Stay Informed Download the App Newsletters Information you can trust Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Follow Us Thomson Reuters Products Westlaw Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Onesource The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Checkpoint The industry leader for online information for tax, accounting and finance professionals. Refinitiv Products Eikon Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface. Refinitiv Data Platform Access to real-time, reference, and non-real time data in the cloud to power your enterprise. World-Check Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Advertise With Us Advertising Guidelines Cookies Terms of Use Privacy Corrections Site Feedback All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. 2021 Reuters. All rights reserved https://www.reuters.com/business/energy/biden-looks-abroad-electric-vehicle-metals-blow-us-miners-2021-05-25/
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