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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Comment by Jim1712on May 06, 2024 12:05pm
101 Views
Post# 36025079

RE:RE:RE:RE:RE:RE:Final rules on IRA clean vehicle provisions issued

RE:RE:RE:RE:RE:RE:Final rules on IRA clean vehicle provisions issued

Here yah go.  

 

The final rules on the clean vehicle provisions of the Inflation Reduction Act (IRA) provide the following key details:
 
The IRA allows a maximum credit of $7,500 per new clean vehicle, consisting of $3,750 for meeting critical mineral requirements and $3,750 for meeting battery component requirements.[1][2]
 
To qualify for the full $7,500 credit, a new clean vehicle must meet certain requirements related to critical minerals and battery components, including:
- Critical minerals: At least 40% of the value of the critical minerals in the battery must come from the U.S. or countries with which the U.S. has a free trade agreement.[3]
- Battery components: At least 50% of the value of the battery components must be manufactured or assembled in North America in 2023, increasing to 100% by 2029.[3]
 
The final rules also provide guidance on the "foreign entity of concern" (FEOC) restrictions, requiring manufacturers to ensure battery materials are not sourced from excluded entities.[2]
 
Additionally, the rules allow for the clean vehicle credit to be transferred to dealers at the point of sale, making the credit available upfront rather than when filing taxes.[2]
 
The final regulations are effective 60 days after publication in the Federal Register, which is scheduled for May 6, 2024.[1]
 
Sources
[1] Final regulations: Guidance on clean vehicle credits https://kpmg.com/us/en/home/insights/2024/05/tnf-final-regulations-guidance-on-clean-vehicle-credits.html
[2] U.S. Department of the Treasury Releases Final Rules to Lower ... https://home.treasury.gov/news/press-releases/jy2323
[3] Treasury Releases Proposed Guidance on New Clean Vehicle ... https://home.treasury.gov/news/press-releases/jy1379
[4] Section 30D New Clean Vehicle Credit - Federal Register https://www.federalregister.gov/documents/2023/04/17/2023-06822/section-30d-new-clean-vehicle-credit
[5] IRS releases final guidance for certain clean vehicle credits under ... https://www.irs.gov/newsroom/irs-releases-final-guidance-for-certain-clean-vehicle-credits-under-the-inflation-reduction-act
 
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