NEM - Biden's $475M For Mining Aims To Power Communities 'Hit Hardest By Our Evolving Energy Landscape' | Benzinga
The Biden administration announced that it will allocate almost half a billion dollars for clean energy projects to major mining companies, including Freeport-McMoRan (NYSE:FCX), Barrick Gold (NYSE:GOLD), and Newmont (NYSE:NEM). This funding, totaling $475 million, aims to accelerate the domestic deployment of clean energy solutions.
“The communities that have powered our nation for the past 100 years should power our nation for the next 100 years,” said U.S. Secretary of Energy Jennifer M. Granholm in a press release. “The department is helping deploy clean energy solutions on current and former mine land across the country, supporting jobs and economic development in the areas hit hardest by our evolving energy landscape.”
However, the three influential mining companies, with significant domestic and international presence, find themselves in varied ...