US' International Development Finance Corporation & Orion Resource Partners would each invest $600mn or more in the new fund — potentially alongside other SWF & US agencies—, as Washington seeks to counter Chinese dominance of critical minerals.
Of the US' $600 Billion contribution, $100MM would be for equity stakes in mining projects & $500MM for debt.
The DFC has already made a range of mining investments, including $105MM in strategic minerals start-up TechMet and $50MM in a rare earths project in South Africa.
It has also committed to lend about $550mn to the Lobito Atlantic Railway, a joint venture between Trafigura & Portugal's Mota-Engil, linking the DRC to the coast through Angola.
Earlier this year Orion set up a $1.2bn joint venture with ADQ, the Abu Dhabi SWF, into which each side contributed $600MM. This could serve as a potential model for how the US fund would operate.
See the whole article in the FT here:
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