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Federal Government To Invest Millions In CA To Start Mining Lithium

Charging of an electric car

Photo: Getty Images

President Biden is turning to California to help lower the country's dependence on China for materials. Right now, China is responsible for 87% of the global market of natural materials. The president met with Governor Newsom virtually on Tuesday to announce a major investment plan to enhance lithium mining in the Golden State to decrease the dependency on China for that material. Lithium is used in product batteries like cell phones, laptops and largely electric vehicles.

In that announcement, Newsom said there is a bounty of the mineral underground near the Salton Sea, which he referred to as "Lithium Valley." Newsom also called that region the "Saudi Arabia of Lithium" as Biden says this move is "not anti-China but pro-American." $35 million in funding will go to MP Materials, which states they will be able to provide enough lithium for 500,000 electric vehicles every year starting in 2025.

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