{"id":69158,"date":"2023-10-05T17:16:21","date_gmt":"2023-10-05T21:16:21","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/u-s-uk-and-partners-working-on-15-critical-minerals-projects\/"},"modified":"2023-10-05T17:16:23","modified_gmt":"2023-10-05T21:16:23","slug":"u-s-uk-and-partners-working-on-15-critical-minerals-projects","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69158","title":{"rendered":"U.S., UK and partners working on 15 critical minerals projects"},"content":{"rendered":"
\n

By Eric Onstad<\/p>\n

LONDON (Reuters) – The United States and partners are working on 15 projects to secure supplies of critical minerals needed for electric vehicles and the energy transition, a senior U.S. official said on Thursday.<\/p>\n

The Minerals Security Partnership (MSP) formed last year by 14 governments aims to ensure adequate supplies of minerals such as lithium and rare earths to meet zero-carbon goals.<\/p>\n

“We’re now looking at 15 projects on five continents, ranging from extraction to processing,” Jose Fernandez, U.S. State Department under secretary for economic growth, energy and the environment, told a briefing in London.<\/p>\n

“It’s our intent is to get some deals done in the next few months.”<\/p>\n

He declined to give details about the companies involved but said at least one of the projects is in Britain. <\/p>\n

The MSP, co-hosted by Britain, will meet next week during the London Metal Exchange (LME) Week industry gathering, he added. <\/p>\n

The MSP aims to facilitate deals among private companies and help with financing, including by trade banks such as the U.S. government’s Export-Import Bank (EXIM), Fernandez said.<\/p>\n

The other members of the MSP are the European Union, Canada, Australia, France, Germany, Italy, Sweden, Finland, Norway, Japan, India and South Korea.<\/p>\n

Fernandez said he was confident that the United States would seal an agreement to allow critical minerals mined or processed in Britain to qualify for U.S. clean vehicle tax breaks. <\/p>\n

On Monday, Fernandez said the United States was optimistic about reaching such an agreement with the EU and Washington signed a minerals deal with Japan in March.<\/p>\n

“Those conversations are intense, they’re ongoing and we have every expectation they will result in an agreement,” Fernandez said. <\/p>\n

The U.S. Inflation Reduction Act provides a $7,500 tax credit on EVs bought in the U.S. if a percentage of critical battery minerals are sourced from the United States or a free trade partner. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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