Author: Ernest Scheyder
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Elon Musk and Tesla break ground on massive Texas lithium refinery
By Hyunjoo Jin and Ernest Scheyder (Reuters) -Tesla Inc on Monday broke ground on a Texas lithium refinery that CEO Elon Musk said should produce enough of the battery metal to build about 1 million electric vehicles (EVs) by 2025, making it the largest North American processor of the material. The facility will push Tesla…
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Miner Barrick Gold doubles dividend as profit beats on higher prices
By Ernest Scheyder and Rithika Krishna (Reuters) -Barrick Gold Corp, on Wednesday doubled its quarterly dividend after beating Wall Street estimates for profit on the back of higher gold and copper prices. Realized gold prices rose 5.6% to $1,876 per ounce in the first quarter from a year earlier, while copper jumped near 14% to…
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Biden eyes Cold War-era defense law to boost mining sector
WASHINGTON (Reuters) – U.S. President Joe Biden could invoke a Cold War-era defense law as soon as this week to encourage domestic production of minerals needed to make electric vehicle batteries, according to two sources familiar with the matter. Such an order under the Defense Production Act is expected to help companies access government funding…
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Sen. Manchin promises to block mining royalty plan
WASHINGTON • U.S. Sen. Joe Manchin has promised to block a proposed royalty for minerals extracted on federal land from advancing in the U.S. Senate’s version of the hotly debated reconciliation package, a senate staffer said on Thursday. Manchin, a West Virginia Democrat and chair of the Senator’s Energy and Natural Resources committee, promised U.S.…
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Firm may seek discount for Rohm & Haas
NEW YORK • The collapse of a joint venture with a state-owned Kuwaiti company may make Dow Chemical less willing to pay the $15.3 billion pricetag for Rohm & Haas it initially agreed to last summer as energy prices peaked. Kuwait’s government backed out of the deal with Dow late Sunday, calling the K-Dow Petrochemicals…