IRA, EGD and now the EU move on China EVs – governments are showering mining with money
When the EU closes its EV market to China, it would open up a direct route and likely premium pricing for lithium, nickel, cobalt miners now supplying China.
The facility is expected to be located within an existing industrial area on the Gulf Coast of the state of Texas and targeted to be operational in financial year 2025.
China, the world’s biggest producer of magnet rare earth oxides could stop exporting the group of minerals within the next decade due to increasing domestic demand and a shortage in global supply.