South32 aims to accelerate development of the first new US manganese mine for decades as carmakers rush to secure supply of the metal needed in EV batteries.
Coal remains a leading fuel in US power plants, and the soaring prices will ratchet up pressure on US homes already struggling with record-high electricity bills.
A crisis of confidence in the outlook for the UK’s finances was the latest trigger for risk aversion, helping drag the S&P 500 Index to an almost two-year low.
“We can secure lithium via a purchase contract, we can be a co-investor into a new mine development, we could buy material providers,” says Citroen chief Vincent Cobee.