FP says Electra, Avalon in talks with U.S. military

Also Avalon Advanced Materials Inc (C:AVL)

In the News

The Financial Post reports in its Thursday, Nov. 17, edition that the United States military is talking to Canadian miners about potentially funding some critical minerals projects in Canada. The Post's Naimul Karim writes that one of those projects is in the Ring of Fire region in Northern Ontario. Wyloo Metals, the Australian company that owns the Eagle's Nest project in the area, confirmed it has been in talks with the U.S. Department of Defense "regarding the important role that northern Ontario's Ring of Fire region will play in producing the critical minerals needed by Canada and the U.S." The project, which is being advanced with the help of two Indigenous groups, however, has also faced opposition by other first nations. Toronto-based Electra Battery Materials is another company that has had "preliminary discussions" with the U.S. Department of Defense. In September, the company executed its first big commercial contract when it signed a deal to supply LG Energy Solution, a global lithium-ion battery maker, with 7,000 tonnes of cobalt from its Ontario refinery. Lithium miner Avalon Advanced Materials, based in Toronto, also had talks with the U.S. Department of Defense.