Loading ...U.S. Takes Stake In Battery Metals Miner To Counter Chinese Control
The US government is taking a $25 million equity stake in Dublin-based battery metals miner TechMet, as part of a push by President Donald Trump to reduce the country’s reliance on supply chains dominated by China.
The backing from the $60 billion US International Development Finance Corporation (DFC) will help TechMet develop a nickel and cobalt mine in Brazil. Both metals are key in the production of the batteries that power electric cars and cell phones.
TechMet’s Brazilian Nickel project, in the north-eastern state of Piauí, is estimated to hold as much as 72 million tonnes of nickel and cobalt.
https://www.zerohedge.com/commodities/us-takes-stake-battery-metals-miner-counter-chinese-control