#MIT Technology Review: #US minerals industries are booming. Here’s why.
A recent set of sweeping US laws have already kicked off a boom in proposals for new mining operations, minerals processing facilities, and battery plants, laying the foundation for domestic supply chains that could support rapid growth in electric vehicles and other clean technologies.
That’s by design. A stipulation in the Inflation Reduction Act (IRA), enacted last year, restricts EV tax credits to vehicles with batteries that contain a significant portion of minerals extracted or refined within the US, or from countries that have free-trade agreements with it. Manufacturing the batteries that power these vehicles requires significant amounts of finished materials such as cobalt, graphite, lithium, manganese, and nickel. Today these often come from other nations, particularly China.
Read more at: https://www.technologyreview.com/2023/03/13/1069658/us-minerals-industries-are-booming-heres-why/