Mining companies in the West are facing two overarching challenges in trying to produce enough metals to enable the energy transition, and at the same time build alternative supply chains to lessen their dependence on China.
The challenge is developing the resources, building new mines and perhaps developing downstream processing, rather than merely exporting ores as has happened in the past. Raising equity capital is hard given the absence of deep pools of retail investor funds and the reluctance of institutional investors to fund risky, long-term projects.
Australia’s federal government last week doubled its funding for critical minerals to A$4 billion , but this is largely viewed as a small amount by the industry.
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