- Talon Metals (TLO) subsidiary, Talon Nickel LLC, has been selected by the U.S. Department of Energy to receive US$114 Million in funding
- The company will expand domestic manufacturing of batteries for electric vehicles and the electrical grid and materials and components
- The subsidiary’s grant application proposed an ore processing and tailings management facility at an existing site in North Dakota
- The government’s grant will cover roughly 27 per cent of the project’s costs
- Talon Metals Corp.’s (TLO) is up 17.17 per cent and is trading at $0.58 per share as of 3:54 p.m. ET
Talon Metals (TLO) subsidiary, Talon Nickel LLC, has been selected by the U.S. Department of Energy for US$114 Million in funding.
The company will expand domestic manufacturing of batteries for electric vehicles and the electrical grid and materials and components currently imported from other countries.
The subsidiary submitted its application for funding back in July. The application proposed an ore processing and tailings management facility at an existing industrial brownfields site in North Dakota.
The site would receive feedstock from the company’s underground Tamarack mine in central Minnesota and other potential sources in North America.
Henri van Rooyen, CEO of Talon, commented,
“This national urgency and the target date for nickel and iron production set within our Tesla-Talon supply agreement required an innovative approach to bring a new domestic source of battery minerals into production… Today’s announcement is a clear recognition that production of domestic nickel and other battery minerals is a national priority.”
The government’s grant will cover roughly 27 per cent of the project’s costs.
The company stated its acquisition of the North Dakota side is actively under negotiations.
Talon Metals Corp.’s (TLO) is up 17.17 per cent and is trading at $0.58 per share as of 3:54 p.m. ET.