Austal Limited (ASX:ASB) announced that the US Government, Department of Defense (DoD), in support of U.S. Navy Shipbuilding Industrial Base declared a US$50 million Defense Production Act Title III Agreement with Austal USA. The agreement would maintain, protect, & grow U.S. Domestic Production of steel shipbuilding ability and capacity through capital projects that will be executed over the later 24 months, starting in June 2020.
The scope of the agreement is yet to be definitized but depending on deal with the DoD, Austal expects to use the funds to begin investment in the development of extra capacity for steel naval vessel building at the Mobile shipyard.
Which stock gained the most attention in 2019? Find out in our exclusive report on the much talked about lithium stocks which gained the most investor attention amidst the volatile and high drama electric vehicle market.
Read about the shift in the Electric Vehicle market in 2020 and the consequent focus on Lithium in our report.
Get an insight into the lithium prices and the trends. The supply glut kept the lithium prices in check. The escalated bilateral trade dispute between the United States and China significantly impacted the lithium chemical prices.
Understand the performance of mining companies. The lithium mining companies managed to sail through the turbulent white gold market by limiting the production in correspondence with the demand from the offtake partners.