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Bullboard - Stock Discussion Forum 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... see more

TSX:FT - Post Discussion

Fortune Minerals Ltd > From Buy American to 'North American': Manchin-Schumer deal
View:
Post by Allman on Jul 28, 2022 6:31am

From Buy American to 'North American': Manchin-Schumer deal

Sounds like the US' Inflation Reduction Act of 2022 EV tax credit amendment has a positive outcome for the likes of Canadian cobalt miners ...

To be eligible for the credits, the amendment would also require that vehicle batteries contain a certain percentage of material sourced from U.S. “free trade” partners.

https://nationalpost.com/pmn/news-pmn/canada-news-pmn/from-buy-american-to-north-american-manchin-schumer-deal-amends-ev-tax-credits
Comment by Allman on Jul 28, 2022 3:11pm
For an EV to qualify for the full incentive, a portion of the critical materials in its battery must be “extracted or processed in any country with which the United States has a free trade agreement,” the proposed legislation stipulates. The materials also qualify if they are produced at a North American recycling operation.   The required percentage of battery metals produced domestically ...more  
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