This week saw major moves to secure critical minerals worldwide. The UK unveiled its Critical Minerals Strategy to expand domestic mining, processing, and recycling, while the U.S. EXIM Bank announced a $100 billion initiative to strengthen energy and mineral supply chains, including LNG and mining projects overseas. India’s cabinet, meanwhile, approved an $815 million plan to scale up domestic rare earth magnet production.
UK Publishes Critical Minerals Strategy
Britain is aiming to secure its supply of critical minerals with a new Critical Minerals Strategy, setting out a plan to strengthen industrial resilience through more domestic mining, processing, and recycling, while reducing exposure to single-country supply risks. The approach closely mirrors the EU’s Critical Raw Materials Act (CRMA), though the UK’s targets are tailored to its smaller market and specific geological strengths.
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U.S. EXIM Unveils $100 Billion Critical Minerals and Energy Security Push
The United States is preparing a $100 billion push to strengthen global energy and critical minerals supply chains, led by an expanded U.S. Export-Import Bank (EXIM) financing. Early deals include LNG exports, a $1.25 billion loan for Pakistan’s Reko Diq mine, and support for an LNG project in Mozambique, with more multibillion-dollar transactions planned across Europe, Africa, and Asia.
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Ordem e Progresso: Brazil Pushes for Local Value Creation in the Raw Materials Sector
Brazil wants to benefit more directly from its abundant natural resources. This week, President Luiz Inácio Lula da Silva set out clear conditions for foreign investors interested in the country’s mineral wealth. At the same time, he urged other resource-rich nations to establish reliable regulatory frameworks for developing their own natural assets.
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India Cabinet Clears $815 Million Rare Earth Magnet Plan
India’s cabinet has approved a $815 million, seven-year program to build large-scale domestic production of rare earth permanent magnets. The scheme aims to build up 6,000 tons per year of magnet output across five manufacturing units, combining production-linked incentives with capital subsidies and funding for research into rare earth-free motor technologies. The first two years will focus on plant construction, followed by five years of incentive payouts.
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China Announces International Initiative for Sustainability in the Resource Sector
At the G20 meeting in South Africa, China unveiled an international initiative to promote sustainability in the resource sector. The initiative seeks to establish an environmentally friendly “life cycle” for mineral resources, from extraction to recycling.
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