Fortune Minerals Ltd T.FT

Biden administrator plans to fund Canadian mining

[Allman]

... the White House has adopted an interpretation of the military sharing agreements of the 1950s and 1960s to declare Canadian companies to be “domestic” sources, opening the door for mining projects in this country to qualify for US funding under of the law ...
this review of the money for Canadian mining projects comes at a time when the United States is seeing a decline in interest in new mining projects and some mines have been blocked by Biden administration officials for environmental reasons ...
The United States has recently seen its fair share of announcements from battery manufacturing plants. But activity in the mining sector is muted and automakers have not signed agreements with mines, opting instead mainly for non-binding supply agreements conditional on a mine actually obtaining its permits and goes into production. 
Pierre Gratton, president and CEO of the Mining Association of Canada, acknowledged that the Canadian mining sector could benefit more from the climate law and the resulting demand for minerals than US mining companies. ...
The Biden administration has signaled its willingness to fund Canadian minerals through the Defense Production Act. ...
A report released by the White House in June this year says Canada is considered a “domestic source” under existing military agreements between the two nations, offering “potential opportunities for collaboration” under the Security Act. defense production. ...
Recently, Canadians in the mining sector received invitations to a September webinar hosted by the US Commercial Service Canada, a division of the US Department of Commerce, on “Strategic and Critical Minerals Funding Opportunities” under the Act. on defense production. 
“The US Commercial Service Canada invites you to participate [in] a webinar to learn how Canada’s critical minerals industry can qualify for financial subsidies under Title III of the Defense Production Act. The webinar will inform on how to increase domestic capacity, invest in domestic production and address global supply chain gaps,” said an invitation obtained by E&E News.

https://cvandmore.com/biden-administrator-plans-to-fund-canadian-mining/