The US has spelled out new rules for tax credits manufacturers can receive for domestically producing parts necessary for the energy transition — and there’s a clear divide for miners and processors.
See Also
Mining M&A in 2023 – Robust activity focused on goldQ&A | The Debate over the 45X Tax Credit and Critical Minerals Mining - Center on Global Energy Policy at Columbia University SIPA | CGEP %Companies that mine lithium, nickel, cobalt, gallium or the other 46 minerals deemed critical by the US cannot receive a 10% production tax credit for extraction or acquisition of those raw materials, according to Treasury Department guidance published Thursday. The incentive also won’t be available for procuring batteries to extract the raw materials for recycling, something firms such as Redwood Materials Inc. and Li-Cycle Holdings Corp. do. The benefits are part of the Biden administration’s Inflation Reduction Act.
