US and EU near critical minerals accord to unlock US subsidies

The European Union and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA).

The deal will likely be similar to an agreement the US signed with Japan this week that also included a commitment to not impose restrictions or export duties on cobalt, graphite, lithium, manganese and nickel that are used in electric car batteries, according to people familiar with the talks.