The Financial Post reports in its Wednesday edition that last year the United States passed the Inflation Reduction Act (IRA) which prompted some of the world's biggest manufacturing companies to change their supply-chain systems. The Post's Naimul Karim writes that the 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. The IRA has been a boon for mining and battery sectors. A month after the law came into being, South Korean battery maker LG Energy Solution signed a deal to source materials required to make batteries for electric vehicles from Electra Battery Materials. The Toronto-based company agreed to supply the battery-making giant with cobalt. Electra Battery described the deal as its "first big commercial contract" last September. An Electra spokesman said the IRA helped close the deal. A key reason behind the investments in these early stage projects that have yet to start production lies in the IRA provisions that provide a $3,750 (U.S.) credit for vehicles whose batteries contain critical minerals extracted or processed in a country with which the U.S. has a free-trade agreement.