Remark
Top 20
I also report him/her/it, looks like the mods on the Crapper are over it...
PS. Sorry for bringing the Crapper to TSEx.
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AVZ Discussion 2022
- Thread starter GazDix
- Start date
PS. Sorry for bringing the Crapper to TSEx.
MoneyBags1348
Top 20
Perhaps Lukonde appointed her because she had no experience and knew he could control what she did
DRC appoints unknown as mining minister
A cabinet reshuffle by DRC prime minister Jean-Michel Sama Lukonde has seen Antoinette N'Samba Kalambayi appointed as the country’s first female mining minister.
MoneyBags1348
Top 20
More evidence that Lukonde is not doing his job…. Also mentions Cominiere acquiring shares in at least 8 joint ventures in 2018 while it’s annual losses had more than quadrupled
eiti.org
30 June 2021
New report underscores the need for governance reforms in state-owned extractive companies.
A recent study conducted by the DRC EITI examined the financial statements of nine state-owned enterprises (SOEs) operating in the DRC’s extractive sector, with the aim of understanding whether these companies are governed in line with national regulations. The independent report, which provides an analysis of 2017 and 2018 statements, presents recommendations to improve production potential and profitability of SOEs as a basis for strengthening their competitiveness and their contributions to the national economy.
A number of recent developments bring opportunities to make progress on SOE governance: the appointment of a government headed by Prime Minister Jean-Michel Sama Lukonde Kyenge, who formerly led the mining SOE Gécamines; a three-year, USD 1.5 billion financing package by the International Monetary Fund; and growing international scrutiny around the sourcing of strategic minerals.
SOEs often report consistent annual losses over long periods. Cominière acquired a 30% share in 2018 in at least eight joint ventures, even though its annual losses had more than quadrupled since 2016.
Gécamines was asked to pay advances to tax agencies, despite there being no specific regulatory basis for such advances and no indication of whether these were to be deducted from future fiscal liabilities. Subsequently, Gécamines has relied on substantial lending from third parties – the study showed that it accumulated over USD 376 million in debt related to external loans in 2018, and an additional USD 214 million in debt related to its participation in joint ventures.
Third parties providing loans included commodity trader Trafigura and copper company MMG Kinsevere.
The report also highlighted significant gaps in auditing and reporting practices by several SOEs. For three of these companies, the auditors concluded on a qualified opinion of the financial statements for both 2017 and 2018.
The implementing decree in the 2018 Mining Code mandates that all active mining companies publish their financial statements, which was further reinforced by a commitment made by several SOEs at a DRC EITI workshop in May 2019.
Despite this, none of the SOEs’ financial statements are publicly accessible today.
In line with encouragements under EITI requirements on statement participation,the consultants requested SOEs for information on their procurement, subcontracting and corporate governance. The study subsequently identified some weaknesses in these areas, for example that SAKIMA lacked a full Board of Directors and that several SOEs did not systematically follow public procurement procedures in their subcontracting.
Some local civil society groups have identified increasing transparency around contract negotiation as the next step in the DRC’s work on contract transparency.
Additional EITI disclosures and close collaboration with oversight institutions can support debate around the process for negotiating and agreeing contracts between SOEs and private companies.
Disclosures of transactions within SOE groups are also vital to understand the financial relations between SOEs and their subsidiaries, joint ventures and affiliates, including dividends and payments collected, terms related to ownership changes and the sales of SOE assets. Such disclosures are especially important for transactions with companies linked to politically exposed persons. This was underscored in recent research by the coalition group Le Congo n’Est Pas à vendre (“The Congo is not for sale”), which examined losses in government revenues that resulted from contracts signed with businessman Dan Gertler.
Streamlining disclosures will be central to follow through on the study’s recommendations and shed more light on the governance of the DRC’s state-owned extractive companies. The study helped to build trust between the DRC EITI and some of these SOEs and facilitated engagement with their management teams. Gécamines subsequently started publishing some of the contracts governing its participation in joint ventures.
The DRC’s next Validation is scheduled to start on 1 January 2022. Strong engagement from civil society groups such as the Coalition pour la Gouvernance des Entreprises Publiques du secteur extractifwill help the DRC EITI prioritise progress in improving SOE governance in the coming months. At its meeting last March, the MSG discussed a sales agreement for artisanally-mined cobalt between the Gécamines subsidiary Entreprise Générale du Cobalt (EGC) and Trafigura. The MSG concluded that it should undertake consultations with all stakeholders on the types of agreements that should be disclosed – and whether disclosures would potentially include commercial agreements between private parties – to better understand implications for SOEs and government revenues.
Congolese President Félix Tshisekedi is seeking to increase revenues from the sector to finance public sector reforms, including free primary education and anti-corruption measures. The EITI process can contribute to these national objectives, building on momentum around contract, tax and beneficial ownership transparency, and on demands from stakeholders for greater accountability in the sector.
Democratic Republic of the Congo: Pioneering reporting on state-owned extractive companies
New report underscores the need for governance reforms in state-owned extractive companies.
Democratic Republic of the Congo: Pioneering reporting on state-owned extractive companies
30 June 2021
New report underscores the need for governance reforms in state-owned extractive companies.
A recent study conducted by the DRC EITI examined the financial statements of nine state-owned enterprises (SOEs) operating in the DRC’s extractive sector, with the aim of understanding whether these companies are governed in line with national regulations. The independent report, which provides an analysis of 2017 and 2018 statements, presents recommendations to improve production potential and profitability of SOEs as a basis for strengthening their competitiveness and their contributions to the national economy.
A number of recent developments bring opportunities to make progress on SOE governance: the appointment of a government headed by Prime Minister Jean-Michel Sama Lukonde Kyenge, who formerly led the mining SOE Gécamines; a three-year, USD 1.5 billion financing package by the International Monetary Fund; and growing international scrutiny around the sourcing of strategic minerals.
Surfacing weaknesses
The study identified several deviations between policy and practice regarding SOEs’ financial transfers to the state. Previous EITI reporting highlighted that SOEs are required to transfer 50% of “pas-de-porte” payments (similar to signature bonuses) and royalties to the Treasury. Yet, the study found that there might be exceptions for such payments, for example where SOEs themselves document the value of the reserves covered by licenses. In addition, some SOEs sold their assets or equity interests in companies without conducting the required open tender processes. The study recommended measures to improve the enforcement of applicable regulations. It also proposed reforms to address ambiguities in current laws to ensure that SOEs are managed in line with their mandates.SOEs often report consistent annual losses over long periods. Cominière acquired a 30% share in 2018 in at least eight joint ventures, even though its annual losses had more than quadrupled since 2016.
Gécamines was asked to pay advances to tax agencies, despite there being no specific regulatory basis for such advances and no indication of whether these were to be deducted from future fiscal liabilities. Subsequently, Gécamines has relied on substantial lending from third parties – the study showed that it accumulated over USD 376 million in debt related to external loans in 2018, and an additional USD 214 million in debt related to its participation in joint ventures.
Third parties providing loans included commodity trader Trafigura and copper company MMG Kinsevere.
The report also highlighted significant gaps in auditing and reporting practices by several SOEs. For three of these companies, the auditors concluded on a qualified opinion of the financial statements for both 2017 and 2018.
The implementing decree in the 2018 Mining Code mandates that all active mining companies publish their financial statements, which was further reinforced by a commitment made by several SOEs at a DRC EITI workshop in May 2019.
Despite this, none of the SOEs’ financial statements are publicly accessible today.
In line with encouragements under EITI requirements on statement participation,the consultants requested SOEs for information on their procurement, subcontracting and corporate governance. The study subsequently identified some weaknesses in these areas, for example that SAKIMA lacked a full Board of Directors and that several SOEs did not systematically follow public procurement procedures in their subcontracting.
Opportunities for a fuller picture
While the study enabled some first-time disclosures, the SOEs’ financial statements only provide a limited view of governance challenges. Financial statements are typically not available until a few months after the period under review. Often, they do not contain payments data required by the EITI Standard, such as information on quasi-fiscal expenditures.Some local civil society groups have identified increasing transparency around contract negotiation as the next step in the DRC’s work on contract transparency.
Additional EITI disclosures and close collaboration with oversight institutions can support debate around the process for negotiating and agreeing contracts between SOEs and private companies.
Disclosures of transactions within SOE groups are also vital to understand the financial relations between SOEs and their subsidiaries, joint ventures and affiliates, including dividends and payments collected, terms related to ownership changes and the sales of SOE assets. Such disclosures are especially important for transactions with companies linked to politically exposed persons. This was underscored in recent research by the coalition group Le Congo n’Est Pas à vendre (“The Congo is not for sale”), which examined losses in government revenues that resulted from contracts signed with businessman Dan Gertler.
Leveraging the EITI
With five ministers sitting on the DRC’s EITI Multi-Stakeholder Group (MSG), the recent nomination of a new government presents an opportunity for the DRC EITI to renew its commitment to transparency in the sector. The MSG has played a key role in convening discussions on SOE governance, and the DRC EITI’s 2021-2023 work plansets out actions to improve SOE reporting.Streamlining disclosures will be central to follow through on the study’s recommendations and shed more light on the governance of the DRC’s state-owned extractive companies. The study helped to build trust between the DRC EITI and some of these SOEs and facilitated engagement with their management teams. Gécamines subsequently started publishing some of the contracts governing its participation in joint ventures.
The DRC’s next Validation is scheduled to start on 1 January 2022. Strong engagement from civil society groups such as the Coalition pour la Gouvernance des Entreprises Publiques du secteur extractifwill help the DRC EITI prioritise progress in improving SOE governance in the coming months. At its meeting last March, the MSG discussed a sales agreement for artisanally-mined cobalt between the Gécamines subsidiary Entreprise Générale du Cobalt (EGC) and Trafigura. The MSG concluded that it should undertake consultations with all stakeholders on the types of agreements that should be disclosed – and whether disclosures would potentially include commercial agreements between private parties – to better understand implications for SOEs and government revenues.
Congolese President Félix Tshisekedi is seeking to increase revenues from the sector to finance public sector reforms, including free primary education and anti-corruption measures. The EITI process can contribute to these national objectives, building on momentum around contract, tax and beneficial ownership transparency, and on demands from stakeholders for greater accountability in the sector.
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Carlos Danger
Top 20
So the reasoning for the postponement by Lukonde seems to be that the order to appoint Chantal Bashizi by Kabila in 2018 was irregular. Maybe it has been a case of better the devil you know so far for Felix.
Congo-Kinshasa: Nouveau report de la remise-reprise /CAMI - Des Mouvements citoyens et ONG des droits de l'homme saluent la décision de Sama Lukonde
Après trois reports de la cérémonie de remise- reprise au Cadastre minier entre le Jean-Félix Mupande, l'actuel Directeur général, et Chantal Bashizi, nommée depuis 2018 et qui devrait prendre les commandes, le Premier Ministre Jean-Michel Sama Lukonde a, enfin, décidé de mettre fin à cette...
July 02, 2021 - After three reports from the handover-recovery ceremony to the Mining Cadaster between the John Felix Mupande, the current Director-General, and Chantal Bashizi, appointed since 2018 and who is expected to take over, Prime Minister Jean-Michel Sama Lukonde has finally decided to end this recovery case, for unveiled reasons until then.
In the wake, several citizens' movements, including Action for Justice (APJ), New Dynamic for an emerging Congo, the Association of Wise Youth for Development, to name only these, jumped on the occasion to congratulate the Chief of Government on his decision because, for them, the Ordinance of 27 December 2018 appointing Chantal Bashizi Director General was irregular.
In their joint statement, these movements call on the President of the Republic to be part of this dynamic of saving the Mining Cadastre, they believe, by reporting this ordinance from two years ago, with the view of the appointment of a new Steering Committee within the Mining Cadastre. More details in the statement below.
Communication by the Citizen Movement Collection and Human Rights ONGGs
Subsididly to our statement of 27 June 2021 as part of the attempt to establish a Management Committee appointed under the order of 27 December 2018, an irregular order,
We, a collective of citizens and NGOs human rights movements, have taken over the responsibility of the President of the Republic, maintaining the proper functioning of institutions and respect for the Constitution and laws of the Republic, inviting him to intervene in order to instruct the overmeeting of the irregular order of 27 December 2018,
We also seized by our statement the Prime Minister - Minister, Chief of Government convincing him to cancel the installation of the Management Committee appointed on the basis of the irregular order of 27 December 2018.
To date, we are delighted to announce to the opinion the Prime Minister - Minister, Head of Government cancelling the establishment of the DG under the above order and thus cancelling the delivery and thus cancelling the delivery and resumption.
On this grounds, we would like to welcome this act of responsibility and listening by Prime Minister - Minister SAMA LUKONDE in order to preserve the interests of the Republic and thus ensure the proper functioning of the Minier Cadastre. In this act, the Head of Government has just proved to his commitment to the vision of the President of the Republic, Head of State, to conduct an unwavering fight against corruption and the branch of our country's mining resources and to benefit the Congolese from the fruits of their basement - soil. We are giving him all our support and encouragement.
However, we remain vigilant in order to ensure strict respect for the Constitution and the laws of the Republic and to ensure the political institutions and public services of our country, including the Minier Cadastre, our accompanying in order to combat corruption and the diversion of public food. Our commitment to respect moral and republican values remains unwavering.
In conclusion, we recommend:
To the President of the Republic, to postpone this irregular order in order to avoid dirtying the image of the first and prestigious institution in our country, which is the President of the Republic, leaving such an order published in the Official Journal;
To the Prime Minister, Head of Government to propose to the President of the Republic, Head of State the appointment of a new management committee consisting of experienced and worthy men and women because the administration of the Minier Cadastre was paralyzed almost three months ago.
Let us remember that the dysfunction of this major service of our country's mining administration is a huge lack of gain from the public treasure, especially at a time when the Republic needs financial resources to support the needs of the population.
The Minister of Mines, to ensure that the measures taken by his hierarchy without a steady manner.
To the population, to double vigilance on the Minier Cadastre because it was coveted by mining pillers in our country.
Mr Inappropriate
Regular
Meanwhile…
2022-12-14 | Tantalex Lithium Announces Impressive Maiden Mineral Resource Estimate for the Manono Lithium Tailings Project | CSE:TTX | Press Release
(2022-12-14 | CSE:TTX) Tantalex Lithium Announces Impressive Maiden Mineral Resource Estimate for the Manono Lithium Tailings Projectstockhouse.com
This shit makes my blood boil…
Samus
Top 20
We hope that those responsible for this sellout will be arrested.
LE CONGO EN RECONSTRUCTION @DieuWedi
@DieuWedi1
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Scoota30
Regular
CATL talking to Ford to build a battery plant in America.
Meanwhile Sec. Blinken rubbing his hands and licking his lips talking to Felix about the DRCs wonderful resources.
https://electrek.co/2022/12/15/ford-weighs-adding-us-ev-battery-plant-with-chinas-catl/
Meanwhile Sec. Blinken rubbing his hands and licking his lips talking to Felix about the DRCs wonderful resources.
https://electrek.co/2022/12/15/ford-weighs-adding-us-ev-battery-plant-with-chinas-catl/
So the reasoning for the postponement by Lukonde seems to be that the order to appoint Chantal Bashizi by Kabila in 2018 was irregular. Maybe it has been a case of better the devil you know so far for Felix.
Congo-Kinshasa: Nouveau report de la remise-reprise /CAMI - Des Mouvements citoyens et ONG des droits de l'homme saluent la décision de Sama Lukonde
Après trois reports de la cérémonie de remise- reprise au Cadastre minier entre le Jean-Félix Mupande, l'actuel Directeur général, et Chantal Bashizi, nommée depuis 2018 et qui devrait prendre les commandes, le Premier Ministre Jean-Michel Sama Lukonde a, enfin, décidé de mettre fin à cette...fr.allafrica.com
July 02, 2021 - After three reports from the handover-recovery ceremony to the Mining Cadaster between the John Felix Mupande, the current Director-General, and Chantal Bashizi, appointed since 2018 and who is expected to take over, Prime Minister Jean-Michel Sama Lukonde has finally decided to end this recovery case, for unveiled reasons until then.
In the wake, several citizens' movements, including Action for Justice (APJ), New Dynamic for an emerging Congo, the Association of Wise Youth for Development, to name only these, jumped on the occasion to congratulate the Chief of Government on his decision because, for them, the Ordinance of 27 December 2018 appointing Chantal Bashizi Director General was irregular.
In their joint statement, these movements call on the President of the Republic to be part of this dynamic of saving the Mining Cadastre, they believe, by reporting this ordinance from two years ago, with the view of the appointment of a new Steering Committee within the Mining Cadastre. More details in the statement below.
Communication by the Citizen Movement Collection and Human Rights ONGGs
Subsididly to our statement of 27 June 2021 as part of the attempt to establish a Management Committee appointed under the order of 27 December 2018, an irregular order,
We, a collective of citizens and NGOs human rights movements, have taken over the responsibility of the President of the Republic, maintaining the proper functioning of institutions and respect for the Constitution and laws of the Republic, inviting him to intervene in order to instruct the overmeeting of the irregular order of 27 December 2018,
We also seized by our statement the Prime Minister - Minister, Chief of Government convincing him to cancel the installation of the Management Committee appointed on the basis of the irregular order of 27 December 2018.
To date, we are delighted to announce to the opinion the Prime Minister - Minister, Head of Government cancelling the establishment of the DG under the above order and thus cancelling the delivery and thus cancelling the delivery and resumption.
On this grounds, we would like to welcome this act of responsibility and listening by Prime Minister - Minister SAMA LUKONDE in order to preserve the interests of the Republic and thus ensure the proper functioning of the Minier Cadastre. In this act, the Head of Government has just proved to his commitment to the vision of the President of the Republic, Head of State, to conduct an unwavering fight against corruption and the branch of our country's mining resources and to benefit the Congolese from the fruits of their basement - soil. We are giving him all our support and encouragement.
However, we remain vigilant in order to ensure strict respect for the Constitution and the laws of the Republic and to ensure the political institutions and public services of our country, including the Minier Cadastre, our accompanying in order to combat corruption and the diversion of public food. Our commitment to respect moral and republican values remains unwavering.
In conclusion, we recommend:
To the President of the Republic, to postpone this irregular order in order to avoid dirtying the image of the first and prestigious institution in our country, which is the President of the Republic, leaving such an order published in the Official Journal;
To the Prime Minister, Head of Government to propose to the President of the Republic, Head of State the appointment of a new management committee consisting of experienced and worthy men and women because the administration of the Minier Cadastre was paralyzed almost three months ago.
Let us remember that the dysfunction of this major service of our country's mining administration is a huge lack of gain from the public treasure, especially at a time when the Republic needs financial resources to support the needs of the population.
The Minister of Mines, to ensure that the measures taken by his hierarchy without a steady manner.
To the population, to double vigilance on the Minier Cadastre because it was coveted by mining pillers in our country.
I think the appointment of Chantal Bashizi is an issue which is worth exploring and investigating further.
I have seen a few posts online suggesting that there is sexism involved with her not being able to commence her position.
The reality is, at least in the current woke western world, gender is the number one most important issue in all of humanity. I wonder if we can leverage this to our advantage and use it to help draw attention and gain support/media coverage.
There are lots of groups which advocate for women's rights/issues all around the world with countless supporters. I wonder how we can go about getting this situation on these people's radar. USA is also starting to become interested in DRC and entering certain negotiations. I wonder if we can get the Chantal appointment issue into the main stream western media spotlight somehow. This may have some influence if the gender issue and the corruption were simultaneously receiving a lot more attention from DRC's potential future partners.
I am going to continue to think on this. Please other posters do the same and see if we can come up with some potential methods to increase awareness on this issue.
Underwaterdark
Regular
CATL just going to swallow us up once ML issued? (in a good way)
Mickyb64
Regular
Hi all, I'd just like to take a moment and thank the regular posters. Frank, Jag, Beisha, Winenut, Charbella, Fox, Cruiser, Money Bags, Xerof, Disco Dan, Sammuel, DoubleA, the list is long and distinguished (like my johnson, Top Gun). I hope you all have a great Christmas and a fantastic New Year. The time and effort you all put into the discussion is greatly appreciated.
Retrobyte
Hates a beer
368 drill holes is an expensive program to come up with that tiny tonnage and piss poor grade. No wonder tailings are discards.
Samus
Top 20
We now KNOW with CERTAINTY that the AMOUNT DISBURSED by #XIJIN for the purchase of 15% of assets, IS NOT the famous $33.4million that Ms. MinPortefeuille and the leaders #COMINIERE DECLARED. Oust all thieves.
Our joy is to always be on the right side of history.
Swallow is good always
Frank
Top 20
GM will go to unusual lengths to secure EV battery minerals
General Motors Inc. is signaling it will reach further down the value chain to ensure it has the minerals it needs to become a major player in electric vehicles.
“We absolutely are convinced we need to have control of our own destiny when it comes to EV critical minerals,” Tanya Skilton, GM’s director of electric vehicle critical materials, said on an industry panel in Washington.
“At times we have engaged, for example, with the steel industry, with steel mills in our history, but to go all the way down to mine sites is new and unique for us at this stage.”
Competition for the minerals needed for the energy transition, such as copper, lithium and cobalt, is becoming more fierce as supplies fall short of demand.
It is forcing some automakers to change the way they source raw materials, going all the way down the value chain to procure metals directly from mines, a move that manufacturers historically avoided.
The auto industry traditionally left raw materials that come out of the ground to processors and equipment manufacturers.
Ford, CATL mull workaround for new US battery plant with US-China tensions high
Ford Motor Co. and China’s Contemporary Amperex Technology Co. Ltd. are considering building a battery manufacturing plant in Michigan in a complex arrangement designed to reap new tax benefits without running afoul of US-China political sensitivities.
The state has emerged along with Virginia as a potential home of the multibillion-dollar facility, according to people familiar with the matter, who asked not to be identified discussing sensitive negotiations. The factory will provide lithium iron phosphate batteries for Ford’s electric models.
The companies are weighing a novel ownership structure under which Ford would own 100% of the plant, including the building and the infrastructure, while CATL would operate the factory and own the technology to build the cells, the people said.
Such an arrangement would let the facility qualify for lucrative production tax credits under the new Inflation Reduction Act while requiring no direct financial investment from CATL.
The Chinese government has discouraged CATL from investing in the US due to tensions with Beijing’s top geopolitical rival, according to the people.
The battery maker paused plans this summer to establish a new facility in North America after House Speaker Nancy Pelosi’s trip to Taiwan further strained relations between the superpowers, Bloomberg reported in August.
The proposal is just one option that has emerged since the IRA was signed into law in August, and it’s still far from being a done deal, the people said.
The lack of clarity around specific content requirements in the IRA is also impacting the decision, and sites in Mexico and Canada haven’t been ruled out.
Shares in CATL jumped 5.3% Thursday, the biggest gain in two months. Ford shares fell 2.2% to $13.18 as of 9:43 a.m. in New York.
The Treasury Department is scheduled to issue guidance finalizing the content requirements and tax credits of the IRA by the end of this month.
‘Still deliberating’
“CATL is still deliberating on investing in the US and we have not made the decision yet,” the battery maker said in an emailed statement.“There are multiple models being discussed regarding our investment in the US, and all of those choices are purely based on and only based on business concerns.”
The company, which already has a deal to sell batteries to Ford for use in its flagship F-150 Lightning and Mustang Mach-E vehicles, said it’s “not true” that the Chinese government objects to CATL investing in the US.
China’s Foreign Ministry said in a statement Thursday it was unaware of the situation.
The Chinese Embassy in Washington had no immediate response to a request for comment.
Ford said in a statement that “our talks with CATL continue — and we have nothing new to announce.”
If the Dearborn, Michigan-based carmaker opts for Virginia or elsewhere, it would mark another high-profile snub of its home state.
Ford opted to build battery hubs in Tennessee and Kentucky in its initial $11 billion investment with South Korea’s SK Innovation Co.
Securing enough batteries to build millions of plug-in models has become a key competitive battleground in the emerging EV market.
In addition to Ford’s joint venture with SK, General Motors Co. has established a partnership with South Korea’s LG Energy Solution Ltd. to build battery plants in the US.
“It is incredibly important to own the battery value chain, there’s no doubt,” Lisa Drake, Ford’s vice president of EV industrialization, said in an interview Tuesday on the sidelines of a Ford technology event.
That “is why we are controlling the raw materials ourselves, nickel, lithium, etc.”
She declined to comment on the specifics of negotiations with CATL.
Cost competitive
CATL, the world’s biggest maker of batteries for electric vehicles, has been considering locations in Mexico and the US to supply cells to automakers including Ford and Tesla Inc., Bloomberg reported earlier this year.But the production tax credit in the IRA, worth as much as $35 per kilowatt hour for each cell produced, could make manufacturing batteries in the US cheaper than in Mexico, according to the people familiar with the matter. The subsidies also offset US tariffs on raw materials imported from China.
Ford announced its partnership with CATL in July, saying it had secured 70% of the battery capacity needed to build more than 2 million EVs annually starting in 2026, a goal set by Chief Executive Officer Jim Farley.
On Ford’s third-quarter earnings call in October, Farley was asked about the status of the CATL partnership given tensions between the US and China. Farley said Ford could “economically” import lithium iron phosphate, or LFP, batteries from China, but alluded to other options to localize production.
“The real billion-dollar question is, when do you localize production of LFP in North America?,” he said on the call.
“Whose name is on the front of the building?”
Food for thought on the Road to Mining Manono Bro
Cheers
Frank
Samus
Top 20
Cominière: Adèle Kanyinda still and always caught in the bag
Selling off mining assets: after being caught hand in the bag in a report published by the IGF, Minister of Portfolio ADELE KAHINDA hires hungry journalists to defend her financial predation with her clan of financial predators.
Cominière file: His Chief of Staff sheds more light on the involvement of the Minister of Portfolio Adele Kahinda
Sell-off of mining assets: Deaconess Adele Kahinda circumvented min. of mines and the technical organ of the govt. to proceed with the sale of COMINIERE's shares. Mrs. Adele Kahinda nailed by her own Dircab who confirms the sale of COMINIERE's assets.
When is someone in authority going to actually say that the 15% sale is null and void? Plenty of condemnation for the cheap sale but that’s where it’s stopped
DiscoDanNZ
Regular
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