US Cancels $500 Million Cobalt Tender in Critical Minerals Blow
View: Source The US Defense Department canceled a tender to buy cobalt, in a fresh sign of the challenges facing Western countries trying to bolster domestic supplies of the battery metal. The Defense Logistics Agency first sought offers in mid-August for up to 7,500 tons of cobalt over the next five years in a contract worth as much as $500 million. …
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How China’s rare earth restrictions could disrupt the U.S. defense industry and reignite a trade war
View: Source China will not allow the export of rare earth materials for use by foreign militaries under restrictions announced last week. Rare earth magnets are crucial components in U.S. weapons such as the F-35 warplane, Tomahawk missiles and drones among other defense systems. The U.S. relies on rare earth imports from China. The restrictions provide President Xi Jinping with significant …
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JPMorgan launches $1.5trn initiative to boost critical industries including minerals
View: Source JPMorgan Chase plans to invest up to $10bn in direct equity and venture capital to support select US companies. JPMorgan Chase has unveiled a major Security and Resiliency Initiative, pledging up to $1.5trn over the next decade to facilitate, finance and invest in industries considered critical to national economic security. The initiative aims to address urgent requirements in important …
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Pentagon Plans $1B Critical Minerals Buying Spree
View: Source The War Department reportedly moved to buy up to $1 billion in critical minerals as part of an accelerated stockpiling strategy aimed at reducing reliance on Chinese supply chains. The Pentagon’s Defense Logistics Agency outlined the bolstered effort in recent filings, the Financial Times reported Saturday night. “They are incredibly focused on the stockpile,” a former defense official told FT. …
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‘Conflict of interest’: Experts share concerns of U.S. stakes in Canadian miners
View: Source The U.S. government is increasingly taking stakes in publicly traded companies, including Intel and Canadian-based miners Trilogy Metals and Lithium Americas, giving rise to concerns over the potential for conflict of interest issues to surface. Richard Leblanc, a professor of governance, law and ethics at York University, said it’s unusual to see a foreign government take a stake in …
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What critical minerals are on China’s export control list now?
View: Source China on Thursday expanded its export controls over rare earths and related technology in a move to further tighten its grip and dominance on the critical minerals key to the energy transition. Five more medium to heavy rare earth elements – holmium, erbium, thulium, europium and ytterbium – and related material will be added from November 8, China’s commerce …
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Trillions needed to address critical minerals supply shortfall, McKinsey says
View: Source Nearly US$5tn in capital expenditure could be needed to address a looming shortfall in metals supply, consultancy giant McKinsey says, but low commodity prices continue to make projects uneconomic. McKinsey has long warned that demand for commodities such as copper, nickel and lithium is expected to exceed supply by 2035, with mining projects not expanding quickly enough to keep up with …
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Canada strengthens critical minerals supply chains in Quebec
View: Source Tim Hodgson, Minister of Energy and Natural Resources, has announced that Arianne Phosphate Inc. has been conditionally approved for an investment of up to CAN$735 000 through the Critical Minerals Research, Development and Demonstration (CMRDD) programme in Canada. This funding is part of an CAN$80.3 million investment announced by Prime Minister Carney on the margins of the 2025 G7 …
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New approach needed in mining critical minerals
View: Source Government incentives and public literacy on metals could mobilize innovation and expand Canada’s role in global mineral supply chains. Global demand for critical minerals is increasing at a rapid pace, fueled by multiple factors including economic growth, the need for cleaner technologies and the NATO target of five per cent of GDP for annual defence spending, which in Canada is to …
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US in talks to establish $5B critical minerals fund: report
View: Source The US International Development Finance Corp (DFC) is in talks with New York-based Orion Resource Partners to establish a fund of up to $5 billion for investments in critical minerals, Bloomberg reported. According to people familiar with the matter, who asked not to be identified because the discussions are private, the proposed venture would involve both parties contributing equal amounts …
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