Biden to Order Increase of Key EV Material Mining
April 4, 2022—President Joe Biden plans to invoke the Defense Production Act to help keep the supply of EV battery materials such as nickel and cobalt in production and readily available.
According to a report from Reuters, using the Defense Production Act would allow the current administration to make funds available for feasibility studies for new domestic mining projects and for upgrading current facilities. Per the report, funds would not be used to dig new mines or bolstering government stockpiles, and it would not allow the mining industry to bypass current regulations.
"We must ensure that we secure the materials necessary for the clean energy economy in a way that holds to our strong environmental, labor, Tribal engagement standards and does not leave us reliant on unreliable and unsustainable foreign supply chains," an anonymous source told Reuters.
It was not made immediately clear how much funding would be allocated.
Image: Tom Fisk