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(Bloomberg) -- Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter.The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a deal, the people said, asking not to be named because the information isn’t public. The electric car maker, which has vowed to slash its battery costs by 50%, instead focused on the plan that Chief Executive Officer Elon Musk outlined last week to dig for lithium on its own in the state.Producing lithium from clay has so far proven difficult and costly. No company has been able to produce commercial quantities using the practice. But a push into mining is at the center of Tesla’s plan to cut battery costs and deliver on a promise...
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]...
(Bloomberg) -- The head of Cleveland-Cliffs Inc. sees an “era of clean steel” ahead, and its main focus will be on cutting carbon emissions as it expands production of the metal with a second major acquisition this year.Cliffs, which on Monday said it will purchase the U.S. operations of ArcelorMittal SA for $1.4 billion, plans to change the mix of raw materials going into the newly acquired blast furnaces, Chief Executive Officer Lourenco Goncalves said in an interview. While those furnaces typically use iron ore pellets and coking coal, the Ohio-based company will substitute hot-briquetted iron for some of the pellets, allowing them to use less coal, he said.The push comes amid stricter emissions rules globally and demand from steel customers including automakers for supply chains that are lower in carbon emissions, which are tied to global warming. Steel production has among the world’s largest footprints, accounting for about 8% of...
The leaders of the U.S. House Committee on Transportation and Infrastructure on Monday introduced bipartisan legislation to reform the Federal Aviation Administration's (FAA) aircraft certification process in the wake of two fatal Boeing 737 MAX crashes. The Boeing 737 MAX has been grounded since March 2019 after two crashes in five months killed 346 people. Boeing did not immediately comment....
Like President Donald Trump, rich Americans often deploy sophisticated tax avoidance strategies to maximize their wealth. Here are a few....
VANCOUVER, BC, Sept. 28, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the company is expanding manufacturing capacity for production of its proprietary membrane electrode assemblies, or MEAs – a critical component of every fuel cell – 6x by early 2021 at its headquarter facility in Vancouver....
