Fortune Minerals Ltd T.FT

Biden Admin continues to fund Canada's CM companies

[Allman]

... U.S. President Joe Biden‘s administration’s focus on building out a North American critical minerals supply chain has often accrued to the benefit of Canadian-based companies, many of which have struggled to raise money on public markets in the face of moribund commodity prices. 

... many industry insiders say there could be more deals announced before Donald Trump takes over next month.

... “Biden and his Department of Energy are incentivized to get as much money out the door as they possibly can.”

... London, Ont.-based Fortune Minerals Ltd. in May announced an $8.7-million grant from the U.S. Department of Defense to support its efforts to develop a cobalt-gold-bismuth-copper deposit in the Northwest Territories 

... The inability of many critical minerals explorers to raise money to advance their projects came to be viewed by the Biden administration as a national security threat because of China’s dominance

... “The line between economic security and national security has been blurred, I would argue,” he said. “That is one reason why you see so much taxpayer money coming into this space.” ... 

https://financialpost.com/commodities/biden-administration-keeps-grants-coming