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Growth In Metals Mining Could Be Key To Achieving Energy Independence
(NewsDirect) In the era of clean energy, the battery metals used in electric vehicles may hav...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Growth In Metals Mining Could Be Key To Achieving Energy Independence\n \n \n (NewsDirect)\n \n \n In the era of clean\nenergy, the battery metals used in electric vehicles may have become\nthe new oil, making investing in a domestic battery supply chain —\nfrom mine to battery — a critical step toward U.S. energy\nindependence.\n \n \n But\nthe U.S. has a long way to go to meet the demand for the metals used\nto power electric vehicles (EVs).\n \n \n Under the Inflation Reduction Act, the U.S.\ngovernment is spending billions of dollars on energy transition,\nincluding through EV purchase incentives, to help the Biden\nAdministration achieve its goal of 50% of new car sales to be zero\nemissions by 2030.\n \n \n Beginning in 2023 and 2024, consumers purchasing EVs are\neligible for the following tax credits:\n \n \n · $4,000 for used EVs\n \n \n · $7,500 for new North\nAmerican EVs\n \n \n · \nUp to $7,500 for commercial EVs weighing less than 14,000 pounds\n \n \n · Up to $40,000 for\ncommercial EVs weighing more than 14,000 pounds\n \n \n If projections are\ncorrect, the incentives will have the desired effect. U.S. EV sales\nare expected to accelerate in the years to 2030, according to the\nInternational Energy Agency (IEA).\n \n \n EVs\ncurrently displace\n \n \n more than 1\nmillion barrels of oil use\n \n \n per day. By 2050, EVs and fuel-cell\nvehicles are expected to replace more than 21 million barrels per day,\naccording to an\n \n \n investor presentation\n \n \n prepared by\n \n Surge Battery Metals\nInc\n \n . (TSX-V: NILI) (OTC: NILIF) (FRA: DJ5), an exploration company\nfocused on locating and developing high-value deposits of the clean\nenergy battery metals that are vital to the rapidly growing EV\nmarket.\n \n \n Mining Capability Is Key To A Reliable Supply\nChain\n \n \n As America\nmanufactures more EVs, it also will need more mines to supply the\nmetals used to make the batteries that power them. The average\nelectric car contains 8.9 kilograms (kg) of lithium and 39.9 kg of\nnickel.\n \n \n Based on\nthe projected production of EVs and the estimated amount of metals\nneeded to power them, the production of the metals to meet demand\nseems to be lagging.\n \n \n In 2021, the U.S produced 900 tons of lithium and 18,000 tons\nof nickel, far short of the projected need of 155...