In blow to U.S. miners, Biden to look abroad for EV metals - Reuters

  • President Biden will rely on Canada, Australia, Brazil and other countries to produce most of the raw materials needed to build electric vehicles and focus on processing them domestically into battery parts, part of a strategy designed to placate environmentalists, Reuters reports.
  • U.S. miners had hoped Biden would rely primarily on domestically sourced metals, but the Biden administration reportedly wants to focus on higher-value jobs that involve turning those minerals into computer chips and batteries.
  • Biden officials want to ensure that U.S. electric vehicle aspirations are not imperiled by permitting holdups for domestic mines, according to the report.
  • Potentially relevant lithium mining tickers include ALB, LTHM, SQM, LAC.
  • Among industrial metals names: FCX, TECK, HBM, SCCO, OTCPK:FQVLF, MP, BHP, RIO, VALE, AA, OTCQX:FTSSF
  • Albemarle's recent share price pullback is a buying opportunity for long-term investors, The Outsider writes in a bullish analysis published recently on Seeking Alpha.

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