With a mission to create resilient supply chains, the board of directors of the Export-Import Bank of the United States (EXIM) this week approved supporting foreign minerals projects that reduce reliance on China.
China dominates the critical mineral and rare earth supply chain and in December 2024 banned the export of certain critical minerals with military usages like gallium, germanium, and antimony to the United States.
EXIM, an independent federal agency, said in a statement on Jan. 8 that its Supply Chain Resiliency Initiative (SCRI) is in response to China’s ban, and said it will strengthen U.S. manufacturers’ options to gain key materials for technologies through partner nations….