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Biden hands out first EV battery metals funding | US$2.8B earmarked to help build local green supply chains, with Albemarle, Piedmont, Talon Metals among the recipients
GRANTS
BY COLIN MCCLELLAND
| Mining veteran reflects on 40-year career, coming out as gay
SPEAKER SERIES
A
lbemarle (NYSE: ALB), Piedmont Lithium (NASDAQ: PLL) and Talon Metals (TSX: TLO) are among the companies marked for US$2.8 billion in funding grants announced by U.S. President Joe Biden’s administration this month to help the critical minerals industry meet electric vehicle and other green energy targets. The White House selected 20 U.S. manufacturers and processors across 12 states for some of the first green metals funding from the US$135-billion pool initially approved almost one year ago in the Bipartisan Infrastructure Act. The U.S. is among countries in the West that want to lessen dependency on China, Russia and other countries like the Democratic Republic of the Congo that control global supplies in key minerals or mineral processing facilities needed for transitions to sustainable energy and widespread modern tech gadgets. Charlotte, N.C.-based Albemarle will receive US$149.7 million to build an initial processing facility for lithium that it plans to mine locally. The mineral would be further processed at another of the company’s plants to reach electric vehicle battery grade of more than 99% purity. The company says it is targeting annual output of 100,000 tonnes of lithium from what would be the largest plant in the U.S. The material would be enough to build some 1.6 million electric vehicles. “Expanding our U.S. footprint also increases the speed of lithium processing and reduces greenhouse gas emissions from long-distance transportation of raw minerals,” Albemarle chief executive officer Kent Masters said in an Oct. 19 press release. “We hope this project spurs additional investment by others in the domestic EV battery supply chain, such as cathode manufacturers, battery makers, and auto manufacturers.” The funding was routed through the Department of Energy after a White House steering committee selected the companies with input from the Energy and Interior departments, the White House said. The funding is part of a wider government package to give incentives to buy electric vehicles, which has spurred companies themselves
Bob Quartermain on respect, equality and ‘creating a good outcome’ for all
A Talon Metals will receive a grant of US$114.8 million. TALON METALS
“WE HOPE THIS PROJECT SPURS ADDITIONAL INVESTMENT BY OTHERS IN THE DOMESTIC EV BATTERY SUPPLY CHAIN.” KENT MASTERS CEO, ALBEMARLE
to invest US$100 billion in electric vehicles, their batteries and charging stations, the administration said. Also headquartered in North Carolina, Piedmont Lithium said it plans to use the US$141.7 million from the program to build a US$600-million processing plant in Tennessee for material mined in Quebec — at its 25%-owned North American Lithium project — and Ghana. It aims to produce 30,000 tonnes a year, doubling current U.S. output of lithium hydroxide. “This funding will enable us to accelerate detailed engineering and place orders for long-lead items,” Piedmont chief operating officer Patrick Brindle said in a press release. Piedmont has a contract to supply Tesla but has yet to secure permits for an US$840 million open pit mine in North Carolina due in 2026, according to Reuters. Talon Metals is to receive US$114.8 million to build a processing plant in North Dakota for
ore mined at its Tamarack nickel project in Minnesota. Though on a cost-share basis and still subject to final negotiations, the funding will go towards the project’s construction and execution and comprise about 27% of its total cost. The proposed separation of mine and processing operations will create a new domestic battery-grade nickel and iron production capability designed to meet the timelines set in the Biden Administration’s national blueprint for lithium batteries, Talon says. Some US$661 million in federal funding went to various battery, lithium and graphite projects by Ascend Elements, Lilac Solutions, Cirba Solutions and a unit of Syrah Resources (ASX: SYR). Biden wants half of the vehicles sold in the U.S. by 2030 to be electric or hybrid plug-ins, and able to charge at half a million new charging stations. But the domestic industry is constrained by low battery minerals production. Also, the administration set tough new requirements in August that US$7,500 EV buying incentives for consumers only apply to vehicles without components sourced in foreign countries such as China. “The lack of mining, processing, and recycling capacity in the U.S. could hinder electric vehicle development and adoption,” the White House said. “The projects will have positive impact on their own and also catalyze a whole U.S. industry in the critical phases of the battery supply chain.” TNM
BY AMANDA STUTT
t the most recent Mining Legends Speaker Series event at the Fairmont Pacific Rim in Vancouver, industry veteran Bob Quartermain, recently inducted into the Canadian Mining Hall of Fame, walked the audience through the milestones of a life’s work well worthy of the honour. Organized by The Northern Miner, the Canadian Mining Hall of Fame and Young Mining Professionals, the Mining Legends Speaker Series pairs CMHF inductees with accomplished young talent (in this case, Andree St-Germain, CFO of Integra Resources) and gives the audience a chance to ask questions to bridge the knowledge gap in the industry — with eyes on the future of mining. Quartermain was a founder and chairman of Pretium Resources, whose famed Brucejack, one of the highest grade gold mines in the world, was acquired in a $3.5-billion deal by Newcrest Mining (TSX: NCM; ASX: NCM) last year. That trajectory originally began when Quartermain was a field geologist at Teck and made key resource discoveries at the Hemlo mine in Ontario. “We could start to assay with our eyes,” he remembered. “I could look at a piece of drill core and tell you ‘that’s gonna run 10 grams or that’ll run 20 grams.’” By visual indications alone, Quartermain thought the deposit hosted at least 2 million oz. gold. The mine has now produced more than 21 million ounces. He went on to set up Silver Standard Resources for Teck, a company that evolved from a $2 million market cap startup into Pretium Resources, a company valued at over $2.5 billion. Speaking eloquently and openly about coming out publicly as a gay man only this year, after a career spanning over 40 years, Quartermain said it was “a challenging commentary when you’ve actually spent much of your life in the closet.” His perspective was that the mining industry wasn’t the most
MARIMACA CONFIRMS COPPER DISOVERY ONE OF DECADE’S LARGEST / 2
Bob Quartermain. THE NORTHERN MINER
comfortable place to come out as a gay man. He noted that in a world whose borders he traversed regularly as a field geologist for See QUARTERMAIN / 16 PM40069240