That’s partly thanks to President Joe Biden’s signature climate and tax bill known as the Inflation Reduction Act . A key piece of the legislation is focused on bolstering production and processing for critical battery metals like lithium within the US and with countries that have free-trade agreements with Washington.
“Pricing is going to remain strong,” Norris said in an interview on the sidelines of Deutsche Bank’s 7th annual lithium and battery supply chain conference in New York. “Everybody needs lithium.” The IRA’s economic incentives are likely to spur domestic investment in lithium output, according to Patrick Brindle, chief operating officer of Piedmont Lithium Inc. The company received $141.7-million in US grants for projects aimed at boosting the country’s electric vehicle battery supply chain.
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