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1920×1280time.com > If lawmakers,regulators can’t agree on how to mine on U.S. soil,it could leave the U.S. susceptible to essentially outsourcing its mining problems to less-regulated countries. For example,last October,the Department of Energy used the Bipartisan Infrastructure Law to give a $141.7 million grant to Piedmont Lithium,which is building a plant in Tennessee to expand U.S. supply of lithium hydroxide,used in long-range batteries for electric vehicles. In March,Blue Orca Capital,a hedge fund,said it was “shorting,” or betting against the stock of Piedmont Lithium,alleging that the spodumene the firm plans to refine into lithium at its Tennessee facility was guaranteed by bribes to the son of a high-level politician in Ghana—“because of corruption,” those raw materials are likely to never come to fruition,the hedge fund says. Piedmont denies the allegations,says in a statement provided to TIME that the Minerals Income Investment Fund of Ghana told the company that it has valid licenses,permits for all its current activities.
1690×1127time.com > If lawmakers,regulators can’t agree on how to mine on U.S. soil,it could leave the U.S. susceptible to essentially outsourcing its mining problems to less-regulated countries. For example,last October,the Department of Energy used the Bipartisan Infrastructure Law to give a $141.7 million grant to Piedmont Lithium,which is building a plant in Tennessee to expand U.S. supply of lithium hydroxide,used in long-range batteries for electric vehicles. In March,Blue Orca Capital,a hedge fund,said it was “shorting,” or betting against the stock of Piedmont Lithium,alleging that the spodumene the firm plans to refine into lithium at its Tennessee facility was guaranteed by bribes to the son of a high-level politician in Ghana—“because of corruption,” those raw materials are likely to never come to fruition,the hedge fund says. Piedmont denies the allegations,says in a statement provided to TIME that the Minerals Income Investment Fund of Ghana told the company that it has valid licenses,permits for all its current activities.
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