The US Inflation Reduction Act (IRA), signed into law by US President Joe Biden in August, requires a percentage of critical minerals used in electric vehicle (EV) batteries come from the United States or an American free-trade partner.
LG said the three Canadian mining firms, Electra, Avalon and Snowlake, will supply LG with 7,000 tonnes of cobalt sulfate for three years from 2023, 55,000 tonnes of lithium hydroxide for five years from 2025, and 200,000 tonnes of lithium hydroxide for 10 years, respectively.
(By Joyce Lee; Editing by Sherry Jacob-Phillips)
