21:02:36 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Avalon Advanced Materials Inc
Symbol AVL
Shares Issued 560,333,603
Close 2023-08-15 C$ 0.145
Market Cap C$ 81,248,372
Recent Sedar Documents

Post says Avalon seeks slice of U.S. IRA action

2023-08-16 09:24 ET - In the News

The Financial Post reports in its Wednesday edition that the United States a year ago passed a 730-page act that almost single-handedly paved the way for some of the world's biggest manufacturers to change their supply-chain systems. The Post's Naimul Karim writes that the Inflation Reduction Act (IRA) promised more than $300-billion (U.S.) worth of tax credits, grants and loans to fund clean-energy projects and address issues linked to energy security and health care. The Canadian government aggressively lobbied for months prior to the legislation's passing to change certain conditions that could have otherwise hurt this country's automotive, energy and mining industries. The IRA has had both the desired effect on companies in the U.S. and some unforeseen consequences for others. South Korean battery maker LG Energy Solution has inked deals to source materials required to make batteries for electric vehicles from some Canadian juniors, including Avalon Advanced Materials and Snow Lake Resources, which are in the process of developing lithium projects. Referring to the provisions, both Avalon and Snow Lake last year said the IRA paved the way for Canadian miners exploring battery metals to start working with EV makers.

© 2024 Canjex Publishing Ltd. All rights reserved.