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Stock impact report

US Treasury allows miners to access clean energy manufacturing subsidy [Yahoo! Finance]

D/B/A Sibanye-Stillwater Limited ADS (SBSW) 
Company Research Source: Yahoo! Finance
a tax credit aimed at boosting American production of solar panels, lithium-ion batteries and other clean energy components, a shift in position after industry pressure. The move reflects the growing realization in Washington that efforts to combat climate change will be moot unless the U.S. boosts its production of lithium, cobalt, and other critical minerals and curbs reliance on China and other overseas rivals. Washington last December issued proposed rules for manufacturers to access the so-called 45X tax credit, created by President Joe Biden's 2022 climate change law, the Inflation Reduction Act, which offers a 10% production credit for U.S.-made products. Those draft rules excluded raw materials from the production costs in favor of processing. For example, the mining of lithium would not have received the credit, but the processing of that lithium into a form usable to build a battery would. The mining industry cried foul, noting that processing is impossible without fir Show less Read more
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