This week, global players made big moves in critical raw materials. The U.S. Pentagon formed a new board to strengthen supply chains, and the U.S. EXIM Bank launched a financing tool for mineral projects abroad. Meanwhile, Brazil invests over $800 million into raw material projects, while Canada Rare Earth secured assets in Laos.
Pentagon Sets Up Strategic Materials Board
On Monday, the Department of Defense announced the formation of the Strategic and Critical Materials Board of Directors, which will advise the Under Secretary of Defense for Acquisition and Sustainment on issues related to supply chains and the country’s national defense stockpile. The first meeting is expected to take place later this year.
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U.S. EXIM Launches Financing Tool for Foreign Critical Mineral Projects
The Export-Import Bank of the United States (EXIM) has launched a new financing tool to bolster U.S. supply chains and reduce dependency on China for critical minerals. The initiative funds foreign projects along the mineral value chain and explicitly excludes Chinese ones. The minerals produced in the projects must be ultimately used in the U.S.
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Brazil: Nearly One Billion Dollars for Raw Material Production and Processing
Brazil, rich in natural resources, aims to further capitalize on its resource wealth. Two government agencies are providing more than $800 million in project funding. The goal is to establish value chains for lithium, rare earths, nickel, graphite, and silicon, as well as to boost investments in the production of batteries, photovoltaic cells, and permanent magnets.
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Canada Rare Earth Announces Refinery Acquisition in Laos
Canada Rare Earth Corp. has announced a Memorandum of Understanding with a private Laos-based company to acquire a 70% stake in a rare earth refinery near Vientiane, the Laotian capital. The country’s ionic adsorption clay deposits have recently attracted significant interest from major industry players, including leading Chinese companies.
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