Future of Canada's mining industry hangs on who gets U.S. subsidies, with nickel the 'litmus test'

The choice will shed light on how much the Biden administration is committed to fighting climate change by accelerating electric vehicle adoption, or whether the IRA is more about shoring up a manufacturing supply chain independent from China.

But Indonesia faces widespread poverty, and President Joko Widodo is keen to orchestrate the kind of development that turned South Korea and China into wealthy nations. Indonesia’s government has developed a commodity-led strategy to grow its economy, hoping to turn itself into a hub of nickel production for use in stainless steel and EV batteries.Article contentExcavators in a pit at a nickel mine operated by PT Teknik Alum Service in Morowali Regency, Central Sulawesi, Indonesia.

Instead, some automakers have taken an expansive view of what countries can produce minerals eligible for the tax incentive.In March, Ford Motor Co., which plans to retrofit an assembly plant in Oakville, Ont., so it can produce electric vehicles, struck a deal toThis advertisement has not loaded yet, but your article continues below.

“The reality is there’s not a fraction of the nickel units needed to meet anywhere near the demand this side of 2030,” said Lennon.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

The Week Ahead: Canada inflation data; Earnings from Home Depot, Canada Goose - BNN BloombergA look at what investors will be watching in the upcoming week.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

Summer air travel, job layoff trends and Ottawa Senators sale: Must-read business and investing storiesPlus, the housing bubble is ready for a comeback
Fuente: globeandmail - 🏆 5. / 92 Leer más »

Future of Canada's mining industry hangs on who gets U.S. subsidies, with nickel the 'litmus test'U.S. subsidies could reset the financial and political context under which Canada’s natural resources are developed and exploited. Read on.
Fuente: financialpost - 🏆 7. / 85 Leer más »