Business
Canadian Lithium Projects Set to Benefit from US President Biden's New Climate Bill
(TheNewswire) KINGSTON, ONTARIO – TheNewswire - September 8, 2022 - ...
About this update from Stria Lithium Inc.
[{"type":"text","content":"Canadian Lithium Projects Set to Benefit from US President Biden's New Climate Bill\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n KINGSTON, ONTARIO –\n \n \n TheNewswire\n-\n \n \n September 8, 2022 -\n \n \n Stria Lithium Inc.\n \n \n (TSXV:SRA) (Stria or “The Company”) welcomes the signing into law\nof last month’s historic climate bill by US President Joe Biden that\nwill establish preferential tax treatment for electric vehicles made\nanywhere in North America, potentially benefitting companies such as\nStria that are developing lithium projects in Canada.\n \n \n \n \n This bill, passed by US Congress in August, could have\ntremendous implications for Canada’s role in the production of clean\ntransportation. The new bill allocates $US 500 million towards the\ndevelopment of North American projects that would lessen dependence on\nAmerica’s rivals, including China, for minerals critical to the\ndevelopment and manufacture of electric vehicle (EV) battery\ncomponents. The ripple effects of this bill will likely have a\npositive impact on Canadian mining companies focused on critical\nminerals exploration, including Stria Lithium, which is advancing its\nPontax spodumene lithium project in Northern Québec in partnership\nwith Australian-based Cygnus Gold. Stria is also exploring for PGMs\n(platinum group metals) at its Romer property located in the Labrador\nTrough sector of Nunavik in Northern Québec.\n \n \n \n \n “Biden’s new climate law shows that the US is\nserious about finding secure, reliable, North American sources of\nlithium and other critical minerals,” said Stria’s CEO, Dean\nHanisch. “As new battery manufacturing plants are announced and\ndemand for EVs continues to grow, the need for the raw materials for\nthose batteries, such as lithium, will be greater than ever before.\nThe world is shifting to greener modes of transportation, making it\nessential to develop sources for these raw materials that Americans\ncan rely on, and we are pleased to see that they are supporting\nCanadian critical minerals projects like ours in preparing for this\nshift. Stria Lithium plans to take full advantage of this\nsupport.”\n \n \n \n \n The White House’s\n \n \n \n \n U.S. – Canada / Canada\n- U...