Export-Import Bank of the United States (EXIM) approved a program to subsidize foreign mining projects to better ensure American industry's access to raw materials.
EXIM will provide financing for international projects with signed long-term “off-take” contracts with U.S. companies, providing these U.S. companies with access to critical minerals from partner countries.
The Supply Chain Resiliency Initiative (SCRI) provides "targeted financing to develop projects that secure critical minerals and rare earth elements, essential for transformative technologies like battery storage and semiconductors, from trusted international partners." according to EXIM.
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