U.S. and China battle for global battery metal dominance
⛏ The United States is toe-to-toe with China over battery metals, countering the latter’s dominance in the industry.
President Joe Biden has invoked the 1950 Defense Production Act to further encourage domestic production and refining of lithium and cobalt. These are key materials needed in high-demand products such as handheld technology and electric cars. Currently, China is responsible for almost three-quarters of the global manufacturing capacity of lithium-ion batteries.
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