The US government has set aside $450 million to advance clean energy projects on current and former mine sites, with special attention given to projects that can create new economic opportunities for coal communities. The Department of Energy has also earmarked $16 million to complete design studies for a US-based refinery that will recover rare earths and other critical minerals from mine waste.
President Biden created an interagency working group focused on revitalizing coal-power communities through federal investments earlier this year. The group selected 25 focus areas ranging from West Virginia to Wyoming for priority development.
There are approximately 17,750 mine land sites spread over 1.5 million acres in the US that expose local populations to harmful pollutants and contaminate the air, land, and water quality in the surrounding areas. The White House estimates that repurposing this land for clean energy projects could generate up to 90 GW of clean energy, enough to power nearly 30 million American homes.
Moreover, in addition to investment and production tax credits available through the 2022 Inflation Reduction Act, the Biden Administration will enable developers of clean energy projects to benefit from these billions of dollars in new bonuses.
By doing so, the government aims to encourage more investment in clean energy in energy communities, especially those that have suffered due to the decline in fortunes of the country’s 50% percent by 2030 and attain a net-zero emissions economy by 2050.
Source: Canadian Mining Journal
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