Pentagon to Deliver Report on Domestic Processing of Seafloor Nodules by March 1 as President Biden Signs NDAA
Under the National Defense Authorization Act (FY24) now signed into law by President Biden, the House Armed Services Committee directs the Assistant Secretary of Defense for Industrial Base Policy to submit a report assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024.
- Under the National Defense Authorization Act (FY24) now signed into law by President Biden, the House Armed Services Committee directs the Assistant Secretary of Defense for Industrial Base Policy to submit a report assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024.
- The news comes as American and allied auto and battery makers struggle to secure supplies of critical battery metals that comply with guidelines for incentives under the Inflation Reduction Act.
- NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today welcomed the passage of the 2024 National Defense Authorization Act (NDAA) into law and the inclusion of provisions directing the Department of Defense to submit a report to the House Armed Services Committee assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024.
- In a letter to the Assistant Secretary of Defense for Industrial Base Policy, Laura D. Taylor-Kale, the Members wrote: “The applicant seems to have the ability to produce battery-grade materials at commercial facilities in North America at pilot scale.