U.S. Export-Import Bank plans to spend $100B for critical minerals, energy dominance - FT

[Iridium is a metallic chemical element belonging to the class of transition metals, silver. Used in high strength alloys that can withstand high temperatures]
RHJ

The U.S. Export-Import Bank will spend $100 billion [https://www.ft.com/content/05671769-9f3c-411d-8d84-3d1c091b1904] to secure U.S. supply chains for critical minerals, nuclear energy and liquefied natural gas, with a first tranche of deals involving projects in Egypt, Pakistan and Europe, the group's new chair John Jovanovic told the _Financial Times_ on Sunday.

The Ex-Im Bank will focus on bringing "U.S. energy molecules to every corner of the globe" and on addressing the west's over-reliance on critical mineral supply chains that "are no longer fair," Jovanovic told _FT_, adding the agency's early deals would include a credit insurance guarantee for $4 billion of natural gas being delivered to Egypt by New York-based commodities group Hartree Partners, and a $1.25 billion loan for the Reko Diq copper and gold mine in Pakistan under development by Barrick Mining (B [https://seekingalpha.com/symbol/B]).

The chair said the bank authorized $8.7 billion in new transactions in the 12 months to the end of September, which does not include a $4.7 billion loan that was reapproved in March to support an LNG project in Mozambique led by TotalEnergies.

Ex-Im’s increased focus on supporting LNG exports and energy security marks a shift of emphasis for the bank, which had been expanding support for renewable energy under former president Biden; in 2024, it supported $1.6 billion in green energy projects, 74% more than in 2023.

Nuclear energy will be a focus under the bank’s new leadership, Jovanovic told FT, adding that Ex-Im is "actively in discussions" about several nuclear projects in southeast Europe where
U.S. companies such as Westinghouse were looking to invest.

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