Western critical minerals projects are being hamstrung by public funding gaps, impeding their ability to challenge China’s chokehold on materials essential to tech and defence manufacturing, according to a new report.
According to the SAFE Center for Critical Minerals Strategy, an NGO, the west’s ability to boost its supply chains now hinges less on access to plentiful geological resources than on addressing “a persistent financing gap” from public entities.
Critical minerals often require 20 to 30 years of investment and operating certainty, without which private capital is reluctant to commit. Stronger commitments from government-backed lenders would encourage private investors and banks to back critical minerals projects, the report said.
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