"In new proposedguidance, the Treasury Department said Friday that, beginning in 2024, EVs may not be eligible for the full tax credit if they contain “any battery components that are manufactured or assembled” by so-called “foreign entities of concern,” which includes entities controlled by or operating within the jurisdiction of hostile nations like China, Russia, North Korea or Iran."
Guidance by IRS would also indicate that tax credits for US EV. are impacted if battery minerals are sourced from Co that are controlled or 25% owned by Chinese interests . IMO the measures will at least highlight COB as a preferred source and by default disqualify some Indonesian ,PNG & DRC nickel/cobalt miners from the USA and maybe the EU supply chain due to Chinese controlling interests Additional matters raised by enviroment/ethical issues will also impact tipping the scales in COB favour as a viable producer . Gidday up COB and Iwatani
COB Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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