The U.S. International Development Finance Corporation paid $25 million to Techmet to help develop Brazilian nickel and cobalt mines, according to Bloomberg. The move undercuts U.S. reliance on China for key material used in electric vehicles production.
- Techmet presents an opportunity for investors to profit from supply-demand dislocation and investment into ethical sources of supply aligned to U.S. interests
- “Investments in critical materials for advanced technology support development and advance U.S. foreign policy.”-Adam Boehler, CEO of International Development Finance Corporation.
- Move follows President Trump’s executive order to expand domestic production on rare-earth minerals dominated by China.
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