Battery maker Clarios views sites for $1 bln critical minerals plant in US
May 20 (Reuters) - Clarios, a battery maker owned by global investment firm Brookfield, is scouting locations for an up to $1 billion critical minerals processing and recovery plant in the U.S. and sites in three states are in contention, it said on Tuesday.
The plan, enabled by recent executive orders and using federal advanced manufacturing tax credits, is part of the car battery maker's strategy to enhance the domestic U.S. supply of critical minerals, Clarios said in a statement.
It has completed preliminary site assessments and is engaging Indiana, Texas and Utah as possible locations for investment.
"We're excited to announce the next step in our strategy to increase our investment in the United States," said Clarios CEO Mark Wallace.
The plant will extract antimony and other critical minerals from recycled materials.
Antimony, crucial to the production of ammunition, night vision goggles, infrared sensors and precision optics, is in a shortage outside China after China imposed export controls, opens new tab on it and other elements in September.
That has fuelled a surge in global prices for the strategic metal.
"The administration has emphasized the importance of these minerals for national security and economic growth, as highlighted in recent executive orders aimed at increasing supply and reducing dependence on foreign sources," it said.
"By investing in critical mineral processing and recovery, Clarios is supporting these national security priorities and contributing to the resilience of the U.S. supply chain."
Clarios in January withdrew its initial public offering plans in the United States.
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