- Write by:
-
Tuesday, October 17, 2023 - 22:39:38
-
191 Visit
-
Print
Mining News Pro - Canada and the province of Ontario will give up to C$1 billion to a unit of Belgium’s Umicore to help it build a plant that will produce components for electric vehicle batteries, Ottawa said on Monday.
The facility, in the Ontario town of Loyalist Township, will manufacture cathode active materials and precursor cathode active materials, federal Innovation Minister Francois-Philippe Champagne said in a statement.
The plant – the first of its kind in North America – will initially employ 600 people and have a battery materials production capacity of 35 gigawatt hours annually.
Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo firms involved in all levels of the electric vehicle (EV) supply chain via a multibillion-dollar green technology.
The Umicore plant is due to be built in stages and could be worth C$2.7 billion when fully completed. Canada will invest up to C$551.3 billion with Ontario adding up to C$424.6 billion.
The full project has the potential to produce enough battery materials to support the production of over 800,000 EVs per year, Champagne said.
Short Link:
https://www.miningnews.ir/En/News/627528
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
The secretary-general of the International Seabed Authority is set to run for a third term leading the United ...
First Quantum Minerals is looking forward to talks with the new administration in Panama and to work together to find a ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, on Wednesday missed first quarter ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
Ucore Rate Metals (TSXV: UCU) has deemed a 26-tonne sample of mixed rare earth carbonate (MREC) from the Wicheeda mine ...
Australian Strategic Materials ASM.AX said on Friday it has received a non-binding letter of interest for a debt funding ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
No comments have been posted yet ...