Miners will struggle to expand operations in the United States in record time to meet a deadline for sourcing key minerals domestically or from select countries as set out by a bill likely to be passed on Friday, companies and industry watchers said.
The guidelines exclude Indonesia and Argentina, two providers of key metals - nickel and lithium respectively - and increase the material sourcing target to 80 per cent by 2026. Automakers had pressed Congress to expand the number of eligible nations. "The conditions and timeline for the credit on electric vehicles is challenging as the battery industry largely operates in Asia and the domestic supply chain is in early development," an Albemarle spokesperson said.
New U.S. mining projects have faced stiff opposition from local communities and environmentalists, underscoring the broader tension in the United States as resistance to living near a mine clashes with the potential of EVs to mitigate climate change.
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