Out of 105 companies that own lithium projects, only 18 have more than one, Fitch notes.

Low copper stocks in LME registered warehouses are also supporting prices.

"This is going to be a golden period of 10 years, at least," said Keith Martin, an attorney with Norton Rose Fulbright who works on financing renewable energy projects.

The Inflation Reduction Act, as the bill is called, will offer opportunities for union workers, United Steelworkers union said.

The Canadian miner posted adjusted earnings of C$1.7 million for the three months ended June 30, a 96% drop from Q2 2021.

Barrick said costs would trend toward the high end, or even slightly exceed, its guidance range.

After remaining fairly flat in 2019, global EV sales grew by 38% in 2020, and then more than doubled in 2021.

The climate bill extends a popular $7,500 per vehicle consumer tax credit for the purchase of electric vehicles.