Why hasn't North American mining taken off like it was supposed to?
One unseasonably warm weekend in March, executives from some of the largest Western mining firms moped around a convention center in Toronto, Canada. The glum atmosphere was a stark contrast to the much more celebratory feel of mining conferences in recent years. Just three years ago, Robert Friedland, the eccentric founder of Ivanhoe Mines, told mining executives that they were about to “make more money” than ever before: After decades of being shunned as a dirty industry best kept offshore
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The new U.S. tariffs on Chinese-made EVs are both unprecedented and largely performative since Chinese EVs haven't yet penetrated the U.S. market. The European Union, by contrast, is facing a more critical and nuanced challenge from the influx of Chinese-made EVS and is currently debating what to do about it. Can the E.U. save its auto industry and still keep its green transition going?