The Biden Administration continues to announce major funding deals for many of Canada’s critical minerals companies
The United States government says it will provide a US$754-million loan to construct a synthetic graphite plant in Tennessee to Novonix Ltd., whose chief executive Chris Burns is based in Halifax, where it maintains its research labs, though it is publicly listed in Australia.
The loan is just one example of how U.S. President Joe Biden‘s administration’s focus on building out a North American critical minerals supply chain has often accrued to the benefit of Canadian-based companies, many of which have struggled to raise money on public markets in the face of moribund commodity prices.
In total, such companies have received hundreds of millions of dollars in support from the U.S. government and many industry insiders say there could be more deals announced before Donald Trump takes over next month. “Up until January 20, 2025, I think you’re going to continue to see the types of agreements we saw with Novonix yesterday,” Chris Berry, president of House Mountain Partners LLC, a strategic metals advisory firm, said.
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