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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":724,"relatedVideos":725},112468824617826,"a75643f0-64c9-445d-8131-fd47d8ca134f","Minerals Security Partnership enters financing but know-how still the missing link","minerals-security-partnership-enters-financing-but-know-how-still-the-missing-link","article/minerals-security-partnership-enters-financing-but-know-how-still-the-missing-link",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":703,"featured":51,"reporter":704,"_editable":708,"component":709,"seo_title":543,"categories":710,"visibility":717,"author_company":49,"featured_image":718,"seo_description":703,"author_full_name":49,"author_job_title":49,"formattedDate":722,"formattedArticleDate":723},"ef052100-11f7-4ff6-a53c-d82e8267d859","2024-10-03 00:00",[550,553,556],{"slug":551,"name":552},"minerals-security-partnership","Minerals Security Partnership",{"slug":554,"name":555},"usa","USA",{"slug":557,"name":558},"policy","Policy",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,579,584,589,604,609,614,621,626,635,640,653,658,663,668,673,678,683,688,693,698],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"The US-led Minerals Security Partnership (MSP) has announced a new finance network to drive investments into ex-China critical minerals assets. ","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"The announcement marks a milestone for the 14-country coalition as it turns from policy dialogue towards actual project development.",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587],{"text":588,"type":578},"The MSP’s new finance network aims to drive private sector capital into critical minerals extraction, processing, recycling, and recovery by boosting “information sharing, coordination, and collaboration.”",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592,594,602],{"text":593,"type":578},"Financing is one barrier to plugging the gap between today’s battery supply and 2040 battery demand, a task that would require ",{"text":595,"type":578,"marks":596},"at least $1.6 trillion of investment",[597],{"type":598,"attrs":599},"link",{"href":600,"uuid":49,"anchor":49,"target":49,"linktype":601},"https://source.benchmarkminerals.com/article/1-6-trillion-investment-needed-in-battery-industry-by-2040","url",{"text":603,"type":578},", according to Benchmark data.",{"type":573,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":578},"However, financing will not be the only factor determining whether Western countries can expand ex-China supply, according to Benchmark analyst Federico Gay.",{"type":573,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":578},"“Apart from access to low cost credit, Chinese firms also have decades of experience and the know-how on how to refine lithium chemicals at scale,” he said.",{"type":615,"attrs":616,"content":618},"heading",{"level":617,"textAlign":49},4,[619],{"text":620,"type":578},"Why is it necessary?",{"type":573,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":578},"The battery minerals industry has been buffeted by price declines since 2023.",{"type":573,"attrs":627,"content":628},{"textAlign":49},[629],{"type":630,"attrs":631},"image",{"id":49,"alt":632,"src":633,"title":49,"source":49,"copyright":49,"meta_data":634},"","https://a.storyblok.com/f/287943243085208/ff21611448/bm-screenshot-2024-10-03-at-180642.png",{},{"type":573,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":578},"As a result, ex-China projects are struggling to attract private investment. This threatens to extend the US’ reliance on its geopolitical and economic rival China for strategic resources.",{"type":573,"attrs":641,"content":642},{"textAlign":49},[643,645,651],{"text":644,"type":578},"The scale of the issue is indicated by recent reports that the US government is discussing a price floor for domestic critical minerals projects. Benchmark analysis indicates this would cost up to ",{"text":646,"type":578,"marks":647},"$7.5 billion for lithium alone",[648],{"type":598,"attrs":649},{"href":650,"uuid":49,"anchor":49,"target":49,"linktype":601},"https://source.benchmarkminerals.com/article/us-critical-mineral-price-support-could-cost-7-5-billion-alone-for-lithium-in-next-five-years",{"text":652,"type":578},".",{"type":615,"attrs":654,"content":655},{"level":617,"textAlign":49},[656],{"text":657,"type":578},"Will it work?",{"type":573,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":578},"The initiative is a move in the right direction by Western countries trying to gain some independence from Chinese firms which dominate these supply chains.",{"type":573,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":578},"Yet while financing cooperation may address capital costs, Chinese firms also have lower operating costs.  ",{"type":573,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":578},"“The energy matrix is more affordable than in Western economies, Coupled with lower labour costs and economy of scale, this gives China a competitive advantage,” said Gay.",{"type":573,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":578},"Aside from costs, China’s high market share in critical minerals owes to the expertise it has built up for a decade or more.",{"type":573,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":578},"“The West is currently where China was more than a decade ago. China has been following a long-term strategy, both in funding projects and advancing infrastructure,” said Gay.",{"type":573,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":578},"Pumping private investment into mineral projects without matching China on expertise, from plant construction to managerial know-how, is likely to result in projects only viable with sustained government support. ",{"type":615,"attrs":689,"content":690},{"level":617,"textAlign":49},[691],{"text":692,"type":578},"What else is needed to add significant ex-China supply?",{"type":573,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":578},"In addition to financing schemes, Western countries will need to adopt at least some of China’s industrial policy playbook over the last two decades if it is to catch up. ",{"type":573,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":578},"“China tried to dominate the whole market, from refining to end-user. So they have built effective infrastructure along the supply chain,” said Gay. “The EU and US are starting to do the same with purchase incentives and supply chain development incentives but this needs to be ramped up and sustained over time to match China’s consistency and long-term policy approach.”","The US-led Minerals Security Partnership (MSP) has announced a new finance network to drive investments into ex-China critical minerals assets. The announcement marks a milestone for the 14-country coalition as it turns from policy dialogue towards actual project development. The MSP’s new finance network aims to drive private sector capital into critical minerals extraction, processing, […]",[705],{"slug":561,"name":562,"content":706},{"job_title":564,"image":707,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ef052100-11f7-4ff6-a53c-d82e8267d859\", \"id\": \"\"}-->","article",[711,714],{"slug":712,"name":713},"critical-minerals","Critical Minerals",{"slug":715,"name":716},"geopolitics","Geopolitics","private",{"id":49,"alt":632,"name":632,"focus":632,"title":632,"source":632,"filename":719,"copyright":632,"fieldtype":720,"meta_data":721,"is_external_url":51},"https://wp-admin.benchmarkminerals.com/app/uploads/flake-graphite-mining-scaled.jpg","asset",{"alt":632,"title":632,"source":632,"copyright":632},"Oct 03, 2024","3rd October 2024",[],[],1784052269863]