RE:RE:Senate moves forward with EV tax credit reformThe assumption that all cobalt miners in the US or countries they have free trade agreements (FTA) with would sell all their cobalt to only US EV manufacturers is highly unlikely. In reality, many of them likely already have commitments with manufacturers who have their plants located in Europe, Japan, Korea, etc. In addition, many of the US based EV manufacturers, e.g. Stellantis, Toyota, Tesla, etc who were planning to source their battery cathode material from Asia will now have to resource from US or FTA mines. And on top of that, even if US EV manufacturers are able to source their cobalt from FTA mines, unless its from US, Canadian or Mexican mines, they will need to contend with tariffs.
At this point, there must be multiple US located EV manufacturers that are clamouring for Fortune Minerals cobalt. IMHO, the tide has turned big time. If someone can demostrate otherwise, I would be interested in seeing that data. As a side note, if this argument is close to reality, that is, there is now an unprecedented significant demand for Fortune Minerals cobalt, surely this must be to their advantage regarding the financial hurdles they must overcome.