Fernandez stated that the MSP Finance Network would provide a platform for MSP export credit agencies, development finance institutions, and state-backed investment funds to de-risk projects.

The MSP is a collaboration of 14 countries and the EU to catalyse public and private investment in responsible critical minerals supply chains globally. It was set up in 2022, and 10 critical materials projects are listed as having already attracted support from MSP partner governments. Fernandez said a further 30 critical minerals mining projects are being evaluated by the MSP.

Meanwhile, Fernandez noted that the state department has created a public-private partnership with non-profit, SAFE, called MINVEST (Minerals Investment Network for Vital Energy Security and Transition) – intended to be “…the state department’s line of communication to the private sector to promote public/private dialogue and spur private sector investment into strategic mining, processing and recycling opportunities”.

The announcement is the culmination of two years of work since US Secretary of State Anthony Blinken, with the EXIM Bank Chair Reta Jo Lewis and DFC CEO Scott Nathan, committed to work through the MSP to support the significant investments and undertake the risks required to diversify critical minerals supply chains.

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