latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/biden-sets-ev-sales-goal-with-us-automakers-mines-won-t-get-covid-19-standard-65938837 content esgSubNav
In This List

Biden sets EV sales goal with US automakers; mines won't get COVID-19 standard

Blog

Using ESG Analysis to Support a Sustainable Future

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Video

S&P Capital IQ Pro | Powered by Expert Insights


Biden sets EV sales goal with US automakers; mines won't get COVID-19 standard

SNL Image

U.S. President Joe Biden drove a hybrid Jeep Wrangler Rubicon Xe around the White House driveway following remarks during an event about electric vehicles on the South Lawn of the White House on Aug. 5, 2021, in Washington, D.C.
Source: Win McNamee /Getty Images News via Getty Images

THE BIG STORY

The battery metals conversation in the U.S. got a little jolt this week thanks to Washington, D.C.

Under the direction of an executive order signed Aug. 5. by U.S. President Joe Biden, half of all new automobile sales in the U.S. would be electric. On the same day as the order, three U.S. automakers — General Motors Co., Ford Motor Co. and Stellantis NV — announced plans to make up to 50% of their sales all-electric by 2030.

Ultimately this announcement may eclipse the impact of bipartisan infrastructure legislation once considered by analysts to be a new demand driver for the metals industry. The infrastructure bill would provide $7.5 billion for electric vehicle infrastructure, a total far lower than the $174 billion the Biden administration proposed in March.

SPOTLIGHT

US agency will not issue emergency pandemic standards despite Biden order

The U.S. Mine Safety and Health Administration is not pursuing an emergency temporary standard to protect mine workers against the spread of COVID-19, an agency spokesperson confirmed in an Aug. 5 email to S&P Global Market Intelligence. President Biden asked the agency to review whether such a standard was needed.

Production impact from strike worse than height of pandemic, Warrior Coal says

The labor strike against Warrior Met Coal Inc. forced the Alabama metallurgical coal company to produce less coal than it did at the height of the coronavirus pandemic. The company was still able to slash net losses to $4.7 million from $9.2 million and increase EBITDA by $44.9 million year over year.

Cuban nickel sites untouched by demonstrations, but US sanctions pose challenges

U.S. sanctions against Cuba have not yet disrupted Sherritt International Corp.'s mining operations, but they could disrupt future financial payments from the company's "Cuban energy partners," President and CEO Leon Binedell said during a July 30 earnings call. Sherritt owns several assets in Cuba.

'Almost zero risk is being priced into markets,' Evolution Mining chairman warns

Battery metals companies are "being priced a lot like internet companies," Evolution Mining Ltd. Executive Chairman Jake Klein told attendees of the Diggers and Dealers conference in Kalgoorlie, Western Australia. Funds could become more interested in gold amid record government spending and central bank purchasing, Klein said Aug. 3.

RESEARCH

Consensus price forecasts — Gold prices rise on Fed's dovish stance

Iron Ore CBS July 2021 — Iron ore prices dip as Chinese demand cools

MARKETS & FINANCE

BHP's Noront Resources deal headlines metals transactions for week ended July 30

IGO urges lateral thinking to develop West Australian battery supply chain

Finding partner 'optimum strategy' to develop Greek mine, Eldorado Gold CEO says

POLICY & REGULATION

US infrastructure bill chock-full of transmission provisions, disappoints on EVs

Despite slashed EV funding, US metals sector sees win in infrastructure deal

Exelon CEO says closing nuclear plants 'right economic decision' absent support

PROJECTS & INFRASTRUCTURE

Pilbara Minerals confident Pilgangoora may rival Greenbushes' spodumene capacity

Iamgold working to overcome challenges at Rosebel mine in Suriname

Top nickel producer weathers financial blows from mine closures, diesel spill

OPERATIONS & STRATEGY

Headwinds from steep raw materials costs weigh on FMC Corp in Q2'21

Steelmaker Gerdau to maintain dividend as Brazil mulls new tax

Consol Energy's pivot to coal export market continues to gain steam in Q2'21