Summary
In a renewed push to bolster supply-chain security for strategic minerals, the Export‑Import Bank of the United States (EXIM) has signalled up to US $191 million in possible support for U.S.-based critical-minerals projects. At the same time, Rio Tinto announced a new equity-investment partnership to expand its North American scandium oxide production capacity. Meanwhile, graphite specialist Nouveau Monde Graphite locked in a major offtake agreement with Panasonic and Traxys, underpinning Canada’s role in the graphite supply-chain.
Key Points
U.S. EXIM opens up to US $191 million in support for U.S. critical-minerals projects: The bank’s Supply Chain Resiliency Initiative and China & Transformational Exports Program will prioritise projects that reduce foreign dependence. https://www.investingnews.com/locksley-receives-up-to-us-191-million-potential-support-from-exim-for-u-s-critical-minerals-push/
Rio Tinto and Canada Growth Fund partner to scale North American scandium oxide supply: The agreement will expand a facility in Québec to nine tonnes per annum of scandium oxide, a rare but strategically important metal used in high-performance alloys. https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-canada-growth-fund-announce-transaction-to-advance-canadian-production-of-scandium
Nouveau Monde Graphite secures offtake & investment partnerships: As part of Canada’s fast-tracked critical-minerals push, the company’s Matawinie graphite project near Montréal has signed deals with Panasonic (Japan) and Traxys (Luxembourg), boosting its profile and share performance. https://www.canada.ca/en/natural-resources-canada/news/2025/10/backgrounder-canada-unlocks-25-new-investments-and-partnerships-with-9-allied-countries-to-secure-critical-minerals-supply-chains.html
Why It Matters
Capital infusion into strategic projects — The EXIM support shows that the U.S. is moving from rhetoric to underwriting large-scale financing for critical-minerals.
Expanding beyond the headline metals — Scandium remains under-the-radar but is emerging as a key enabler in aerospace and defence alloys; Rio Tinto’s move is a sign of growing mainstream recognition.
Graphite supply-chain diversification — Nouveau Monde’s deals reflect that upstream mining must align with global offtake and manufacturing partners to move beyond primary-resource exposure.
Watchlist Companies
Company | Context | Homepage / Link |
|---|---|---|
U.S. EXIM (via supported projects) | U.S. export-finance bank poised to back critical-minerals production — companies benefiting may carry premium. | |
Rio Tinto (RT) | Major miner expanding into scandium oxide production in Québec via strategic partnership. | |
Nouveau Monde Graphite (NMG) | Canadian graphite developer securing offtake & investment partnerships under Canada’s policy push. | |
Ucore Rare Metals (UCU) | Rare-earths company referenced in Canada’s project listings; processing-focused upside. |
Critical Minerals Spotlight
Scandium – the niche strategic metal : While many eyes are on lithium or rare-earths, scandium is quietly becoming a strategic material for high-performance alloys and future tech.
Financing infrastructure matters : The ability to access large-scale export-credit or government-backed financing (EXIM, Canada Growth Fund) is becoming a differentiator for project success.
Offtake & manufacturing alignment : Mining alone isn’t enough — offtake deals and downstream partnerships (as with Nouveau Monde) are now essential to move from resource to resilience.
Action Points
Monitor announcements from EXIM and related programmes for which companies receive support and what projects are funded.
Evaluate firms that are moving into downstream or value-added segments (e.g., scandium, graphite) rather than just raw extraction.
For supply-chain buyers and manufacturers: identify and engage with offtake partners early in projects that have secured large strategic backing — it may provide leverage before valuations expand.
This briefing is for informational purposes only and is not legal, investment or policy advice. Information is believed accurate at time of publication. Sources are publicly available.
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