A young entrepreneur is taking on the challenge of building America’s first nickel-cobalt refinery. Kaleigh Long, a 28-year-old single mother from Oklahoma, was inspired to enter the mineral business after witnessing the devastating impact of the critical-mineral trade in the Democratic Republic of Congo. She saw the need for an American solution to address the bloodiness and abuses associated with the industry, particularly in relation to China’s dominance.
With a vision to clean up the mineral supply chain and reduce China’s control over essential minerals for a greener economy, Ms. Long founded Westwin Elements and successfully raised $50 million for the startup. She has assembled a diverse and experienced board, including oil-and-gas tycoons, a former intelligence officer, and the former CEO of Boeing, to support her mission.
Westwin’s efforts align with the goals of the Inflation Reduction Act (IRA), which aims to drive America’s clean-energy transition. The act has already attracted significant investments in green manufacturing and battery-making, but concerns about China’s influence on mineral mines and refineries remain. Ms. Long’s refinery project represents a step towards reducing America’s reliance on foreign sources for essential minerals, ensuring a more secure and sustainable future.
Source: www.economist.com
Date: 2024-02-29 09:01:56