The negotiations largely involve Department of Energy grants and loans for companies that mine and process the metals and components used in batteries, according to the report, which cited consultants with clients in the talks.
The talks follow the July deal where the U.S. government received a 15% stake in rare earths producer MP Materials (NYSE:MP) in exchange for $400 million; MP shares +11.6% to as high as $82.23 in Thursday’s trading, near an all-time intraday high.