Explore

U.S. International Development Finance Corporation Funds African Rare-Earth Projects Amid Private Investor Reluctance

U.S. International Development Finance Corporation Funds African Rare-Earth Projects Amid Private Investor Reluctance

The U.S. International Development Finance Corporation (DFC) is actively supporting rare-earth projects across Africa, committing $62.8 million to initiatives in Malawi, Angola, Madagascar, and South Africa. This funding comes as private investors have shown reluctance to finance these ventures, despite their strategic importance. A significant portion of this investment, approximately $50 million, is directed towards the Phalaborwa project in South Africa, backed by Dublin-based mining investor TechMet. DFC executives, speaking anonymously to Reuters, indicated that private capital is not entering these projects, and the DFC aims to help these projects reach a de-risked stage to attract future private sector investment. None of the DFC-backed projects have yet reached production. Africa currently accounts for 20% to 25% of the DFC’s global investment portfolio.

U.S. International Development Finance Corporation Funds African Rare Earth Projects Amid Private Investor Reluctance

U.S. International Development Finance Corporation Funds African Rare Earth Projects Amid Private Investor Reluctance

The U.S. International Development Finance Corporation (DFC) is actively funding rare-earth projects across Africa, committing $62.8 million to initiatives in Malawi, Angola, Madagascar, and South Africa. This intervention comes as private investors have largely shied away from financing these projects due to their high-risk profile and concerns over potential Chinese market interventions that could destabilize pricing and project economics. A significant portion of this funding, approximately $50 million, has been allocated to the Phalaborwa project in South Africa, backed by Dublin-based mining investor TechMet. Despite the DFC's investments, none of these projects have yet reached production. Two senior DFC executives, speaking anonymously, acknowledged the lack of private capital inflow and stated that the DFC aims to help these projects reach a more de-risked stage to attract future private-sector investment. Rare earths are crucial for manufacturing magnets used in electric vehicles, wind turbines, a...

Takeaways from the AP-Reporter Brasil story on the US and others turning to Brazil for rare earths

Takeaways from the AP-Reporter Brasil story on the US and others turning to Brazil for rare earths

Brazil is becoming a key player in the rare earth minerals market

U.S. Development Finance Agency Commits $62.8 Million to African Rare Earth Projects Amidst Private Investor Caution

U.S. Development Finance Agency Commits $62.8 Million to African Rare Earth Projects Amidst Private Investor Caution

U.S. Development Finance Agency Commits $62.8 Million to African Rare Earth Projects Amidst Private Investor Caution

Saudi Aramco and Maaden Form Joint Venture for Mineral Exploration in Saudi Arabia

Saudi Aramco and Maaden Form Joint Venture for Mineral Exploration in Saudi Arabia

Saudi Aramco and Maaden Form Joint Venture for Mineral Exploration in Saudi Arabia

American Rare Earths Partners with Novex to Establish U.S. Mine-to-Magnet Supply Chain

American Rare Earths Partners with Novex to Establish U.S. Mine-to-Magnet Supply Chain

American Rare Earths Partners with Novex to Establish U.S. Mine-to-Magnet Supply Chain

Ma’aden and Aramco Establish Joint Venture for Copper Exploration in Saudi Arabia

Ma’aden and Aramco Establish Joint Venture for Copper Exploration in Saudi Arabia

Ma’aden and Aramco Establish Joint Venture for Copper Exploration in Saudi Arabia

U.S. State Department to Demand Allies Choose Sides in AI Race Against China

U.S. State Department to Demand Allies Choose Sides in AI Race Against China

The U.S. is preparing to inform dozens of partner countries that they must align with either the U.S. or China in the artificial intelligence (AI) race. According to a U.S. official and an internal draft reviewed by Reuters, countries that join Beijing's competing AI framework will be excluded from a U.S.-led AI coalition. This directive falls under the 'Pax Silica initiative,' launched last year by Washington to secure supply chains for AI models, semiconductors, and critical minerals, amidst an intense technological rivalry with Beijing. Approximately two dozen countries have already joined Pax Silica, including close U.S. allies like Japan, Australia, and South Korea. Kazakhstan is noted as the only country to have joined both the U.S. initiative and China's rival 'World Artificial Intelligence Cooperation Organization,' which was launched by Chinese President Xi Jinping in July to promote open-weight technology. The draft letter from the State Department, addressed to 35 signatories of a U.S. 'AI Oppor...

Lazarus Mining and River Resources Confirm Ownership and Development Focus for Mt. Vernon Gold Mine

Lazarus Mining and River Resources Confirm Ownership and Development Focus for Mt. Vernon Gold Mine

Lazarus Mining and River Resources Confirm Ownership and Development Focus for Mt. Vernon Gold Mine

Worley and Nano One Advance Sustainable Battery Material Manufacturing with LFP CAM Package

Worley and Nano One Advance Sustainable Battery Material Manufacturing with LFP CAM Package

Worley and Nano One Advance Sustainable Battery Material Manufacturing with LFP CAM Package

Freeport-McMoRan Gains Attention as Copper and Gold Prices Approach Record Highs

Freeport-McMoRan Gains Attention as Copper and Gold Prices Approach Record Highs

Freeport-McMoRan Gains Attention as Copper and Gold Prices Approach Record Highs

Canadian Explorer Arizona Eagle Mining Acquires Three Historic Arizona Silver Mine Areas

Canadian Explorer Arizona Eagle Mining Acquires Three Historic Arizona Silver Mine Areas

Canadian Explorer Arizona Eagle Mining Acquires Three Historic Arizona Silver Mine Areas