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17:03
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Originally posted by cantankerous:
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I am reposting this news report from Reuters (25 March 2024) because it raises the problem our possible JV (under investigation) with Gangfeng for a hydroxide converter not being IRA compliant. IMHO Pilbara Minerals cannot afford to take part in such a JV while proposing P2000 which has been costed at $1.2B. (Note that the embolding of text is mine)If the joint venture proceeds, the parties intend to own the project 50:50, but Ganfeng is open to selling down its stake, depending on potential benefits from the U.S. Inflation Reduction Act subsidy scheme that has U.S. sourcing requirements , the companies said.Pilbara Minerals is expanding production to 1 million tonnes of spodumene a year. It has committed to supply 300,000 tonnes of spodumene a year for the project if it goes ahead.It will in the June quarter decide whether to expand production capacity beyond 1 million tonnes a year, it said in the statement.
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Yes, I think the thinking was IRA benefits. Doesn’t rule out a Euro incentive yet and I would think Carbonate with a midstream flavor, considering LFP chemistry is currently the VHS of battery chemistry.
(20min delay)