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Electric Metals ( (TSE:EML) ) has provided an announcement.
Electric Metals has entered into a Memorandum of Understanding with Lucid Group as part of the Minerals for National Automotive Competitiveness (MINAC) initiative. This collaboration aims to reduce U.S. reliance on foreign critical minerals in the automotive supply chain, aligning with a presidential executive order. The initiative involves other mining and processing companies and seeks to bolster local economies and create jobs by promoting domestic mineral resources. This strategic collaboration is expected to enhance Electric Metals’ positioning in the market by potentially unlocking significant investments and supporting U.S. policy goals for non-Chinese critical materials.
More about Electric Metals
Electric Metals (USA) Limited is a US-based mineral development company with a focus on manganese and silver projects aimed at supporting the transition to clean energy. The company’s principal asset is the Emily Manganese Project in Minnesota, which is the highest-grade manganese deposit in North America. Electric Metals aims to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology, and industrial markets.
Average Trading Volume: 77,240
Technical Sentiment Signal: Sell
Current Market Cap: C$21.73M
See more insights into EML stock on TipRanks’ Stock Analysis page.