Money as policy

Capital

How governments put money, ownership and purchase guarantees behind strategic-material supply chains. Each row is one instrument from an official source or binding filing, in the currency the source uses. Programme envelopes, unexercised funding options and private capital are listed apart from money committed to a recipient, and never summed; a commitment stated “up to” is added only to others stated the same way. A part is never counted alongside the package it belongs to.

Understanding financing terms — quick definitions

These describe different things: the type of figure and the source-reported stage of the financial relationship. They are not a single timeline or an amount of money spent.

Commitment: Money, or a money-like promise, committed to a named recipient or project. The only role ever summed.
Program envelope: The ceiling of a programme, fund or facility that awards are drawn from.
Funding option: A ceiling a party may call on at its own election under an executed agreement. Listed, never summed: an executed option is not committed money. An exercise is recorded as its own commitment drawn from the option, with its own payment status.
Non-binding indication: A non-binding letter of intent or interest that names an amount: possible support, not money committed to anyone. Listed in its own layer, never summed, and never counted as binding, not yet binding, capital, backing or co-investment.
Authorized: Legal or budgetary authority exists, e.g. an enacted statute or cabinet approval.
Decided: The provider has decided to invest, lend or award, including a conditional commitment.
Contracted: A binding agreement has been executed. Not a payment, and not necessarily an obligation of funds: an agreement can leave that to a later step.
Partially disbursed: Some of the money has been paid out.
Disbursed: The money has been paid out.
Obligated: Obligation is not an SMPT financial-status label. In particular, 'contracted' alone does not establish whether funds have been obligated.

Full terminology and counting rules →

Financial rows: 96
Events: 35
Providing governments: 7
Instruments: 11

Public commitments to recipients, binding and not yet binding

Rows with the value role “commitment” and public or public-enterprise capital. Summed per currency and per instrument, never across either; parts of a counted package are left out; money under a binding agreement is shown apart from money announced, decided or conditionally committed; figures stated “up to”, “about” or “at least” are added only to figures stated the same way, within one currency and instrument, and shown apart from exact figures (an “up to” sum adds stated upper bounds; it is not an amount paid); withdrawn or lapsed commitments are left out.

AUD

Equity

Binding

Stated exactly: 6,396,581.12

Disbursed 2

CAD

Grant

Not yet binding

Up to: 9.1 million

Equity

Binding

At least: 35 million
Up to: 47.668 million

Instrument not specified

Listed below, not summed: the sources name no instrument the tracker's vocabulary covers.

Announced 8 · Decided 5 · Contracted 3 · Partially disbursed 1 · Disbursed 1

Not added again: 4 parts of a counted package (instrument not specified, Cyclic Materials Incorporated, instrument not specified, Green Graphite Technologies Inc., instrument not specified, Ucore Rare Metals Inc., grant, Ucore Rare Metals Inc.).

EUR

Grant

Binding

Approximately: 14.8 million

Loan

Binding

Stated exactly: 168 million

Contracted 2 · Partially disbursed 1

GBP

Several instruments, split not stated

Listed below, not summed: each row combines instruments without a split.

Announced 1

Tungsten Westup toGBP71 million
United Kingdom · Several instruments, split not stated · Announced

Not added again: 2 parts of a counted package (equity, Tungsten West, loan, Tungsten West).

JPY

Grant

Not yet binding

Approximately: 27.8 billion

Announced 1 · Decided 3

USD

Grant

Binding

Stated exactly: 84.8 million
Approximately: 27.1 million
Up to: 59.2 million

Not yet binding

Stated exactly: 18.1 million

Includes an announced amount (fin-us-dod-5n-germanium-2024): Announced amount (DoD release, 16 April 2024). It is unreconciled with the $12,458,128 federal obligation reported in the federal award record and with the $2,505,981 non-federal funding reported there. No amount paid is recorded; some payment is reported in federal-reporting data only.

Loan

Binding

Stated exactly: 150 million
Approximately: 2.23 billion

Not yet binding

Stated exactly: 3.606 billion

Loan guarantee

Binding

Stated exactly: 996 million
Up to: 1.3 billion

Equity

Binding

Stated exactly: 525 million

Not yet binding

Up to: 200 million

Instrument not specified

Listed below, not summed: the sources name no instrument the tracker's vocabulary covers.

Announced 1 · Decided 3 · Contracted 6 · Partially disbursed 4 · Disbursed 3

Totals are never converted between currencies, never added across instruments or value roles. Within one currency and instrument, figures stated “up to”, “about” or “at least” are added only to others stated the same way; an “up to” figure is a sum of stated upper bounds, not an amount paid. A paler bar marks any such figure. 7 public commitments state no amount at all — a price floor, an offtake, a tax offset, a procurement right — and are listed below rather than valued. Binding means an agreement is executed: contracted, partially disbursed and disbursed rows are binding, while payment is tracked separately. A contracted row need not mean funds are obligated or paid, and a partially disbursed row is not fully paid. Every earlier stage the source states, including conditional loan commitments, is shown as not yet binding. A non-binding letter of intent or interest is not a commitment at all: it is an indication, listed below apart from public support and never summed. A commitment whose source states no status is neither: it is listed, not summed, and a withdrawn or lapsed one is listed as ended and never summed. See the counting rules.

Public commitments by providing actor, currency and instrument
Provider	By currency and instrument · “up to”, “about” and “at least” figures in separate buckets	Rows without a sum (no amount, no status, or ended)
USUnited States	USD grant 102.9 million and approximately 27.1 million and up to 59.2 million; loan 3.756 billion and approximately 2.23 billion; loan guarantee 996 million and up to 1.3 billion; equity 400 million; instrument not specified: 1 row listed, not summed Includes an announced amount (fin-us-dod-5n-germanium-2024): Announced amount (DoD release, 16 April 2024). It is unreconciled with the $12,458,128 federal obligation reported in the federal award record and with the $2,505,981 non-federal funding reported there. No amount paid is recorded; some payment is reported in federal-reporting data only.	3
EUEuropean Union	EUR grant approximately 14.8 million; loan 168 million	—
AUAustralia	USD equity 100 million and up to 200 million	2
JPJapan	CAD equity up to 47.668 millionJPY grant approximately 27.8 billion	—
CACanada	CAD grant up to 9.1 million; equity at least 35 million; instrument not specified: 15 rows listed, not summedUSD equity 25 million	1
GBUnited Kingdom	GBP several instruments, split not stated: 1 row listed, not summed	1

Funding options under executed agreements

A ceiling a recipient may call on at its own election. The agreement is signed, but an option is not committed money until it is exercised, so it is listed here and never added to the totals above. An exercise would be recorded as its own commitment.

US9 Jul 2025

MP Materials Corp.

up toUSD350 million

DoD–MP Materials public-private partnership for rare earth magnet supply

Funding optionEquityPublicOption executed · no exercise recorded

As filed “the Company’s alternatives including having a right to fund up to the full $350,000,000 of such additional proceeds by selling to DoD additional shares of Series A Preferred Stock on the same terms as the initial purchase or otherwise electing to obtain $350,000,000 under the terms and conditions of the committed financing provided by JPMorgan and Goldman Sachs”

Agreement executed — recorded
9 Jul 2025 · MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Option exercised — not recorded
None recorded in the corpus
Money disbursed — not recorded
None recorded in the corpus

Instruments that carry terms, not a sum

Price floors, offtake, tax offsets and procurement rights change incentives without a stated total. Their operative terms are the finding.

Offtake · Alcoa-Sojitz Gallium Recovery Project

Tax credit · Constitutional corporations with registered CMPTI processing activities

Tax-credit rate “The amount of the CMPTI tax offset for the income year is equal to 10% of the company's total CMPTI expenditure”
Duration “A registration can be in force for 10 income years during the period starting on 1 July 2027 and ending on 30 June 2040.”
Other term “the income year: (i) starts on or after 1 July 2027; and (ii) ends on or before 30 June 2040”

Offtake · Nouveau Monde Graphite

Quantity covenant “30,000 tonnes per annum”
Duration “seven-year period as of the start of commercial production”

Offtake · Lynas Rare Earths Limited

Offtake share “supply up to 65% of the HRE (dysprosium and terbium) produced by Lynas from Mt. Weld feedstock to the Japanese market”

Procurement right · Tungsten West

Procurement share “the right to procure up to 50% of the mine's tungsten production, stated in its 2025 Feasibility Study”

Equity · Alcoa-Sojitz Gallium Recovery Project

Offtake · MP 10X Development, LLC (project company established to develop the 10X Facility)

Offtake share “the Project Company will sell and deliver to the Department of Defense the entire amount of magnets produced at the 10X Facility”
Duration “a term of ten years following the Commercial Operation Date”
Other term “the 10X Facility will generate at least $140,000,000 of EBITDA on an annual basis after reaching full production capacity, adjusted annually ... for inflation at a rate equal to 2%”

Price floor · MP Materials Corp.

Price floor “a quarterly payment per kilogram (kg) of Neodymium-Praseodymium ("NdPr") produced by the Company equal to the shortfall between $110 per kg and the Benchmark Quarterly Average Volume Weighted Price”
Duration “will continue for 10 years”
Other term “the Department of Defense will be entitled to receive 30% of the NdPr sales price which exceeds $110 per kg”

Envelopes, appropriations and lending authorities

Ceilings that awards are drawn from. Listed, never summed: two envelopes can share a drawdown, and an envelope is not money committed to anyone.

AUDate not stated

Australian Government (Critical Minerals Facility)

AUD5 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeSeveral instruments, split not statedPublicNot stated

AU12 Jan 2026

Australian Government

AUD1.2 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeSeveral instruments, split not statedPublicAnnounced

AU12 Jan 2026

Australian Government (Department of Industry, Science and Resources, with Export Finance Australia)

AUD1 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeInstrument not specifiedPublicAnnounced

EU3 Dec 2025

European Union (EU funds)

EUR3 billion

RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality

Program envelopeInstrument not specifiedPublicAnnouncedambiguity noted

IN29 Jan 2025

Government of India

INR163 billion

National Critical Mineral Mission

Program envelopeInstrument not specifiedPublicAuthorizedExploration · Mining · Processing · Recycling · Stockpiling · Research and development

GB22 Nov 2025

Department for Business and Trade

up toGBP50 million

Vision 2035: Critical Minerals Strategy

Program envelopeGrantPublicAnnouncedambiguity noted

AU20 Oct 2025

Australian Government

at leastUSD1 billion

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

Program envelopeSeveral instruments, split not statedPublicAnnouncedMining · Separation · Processing

US20 Oct 2025

United States Government

at leastUSD1 billion

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

Program envelopeSeveral instruments, split not statedPublicAnnouncedMining · Separation · Processing

AUDate not stated

Australian Government

AUD185 million

Critical Minerals Strategic Reserve — initial minerals

Budget appropriationStockpile purchasePublicAllocatedStockpilingambiguity noted

CA9 Dec 2022

Government of Canada

up toCAD3.8 billion

The Canadian Critical Minerals Strategy

Budget appropriationInstrument not specifiedPublicAnnouncedExploration · Processing · Recycling · Research and development

US4 Jul 2025

US Department of Defense, Office of Strategic Capital

USD500 million

DoD–MP Materials public-private partnership for rare earth magnet supply

Budget appropriationLoanPublicAuthorized

US4 Jul 2025

US Department of Defense, Office of Strategic Capital

up toUSD100 billion

DoD–MP Materials public-private partnership for rare earth magnet supply

Lending authorityLoanPublicAuthorized

Kept apart from public support

Private financing, a recipient's own funds, money governments expect others to invest, non-binding letters of intent or interest (indications, not commitments), joint vehicles whose public share is not stated, and rows whose capital source the source does not state.

CADate not stated

Nouveau Monde Graphite

up toUSD430 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedMiningambiguity noted

CADate not stated

Vianode

up toUSD500 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedProcessingambiguity noted

CA7 Jul 2026

Teck Resources Limited

up toCAD400 million

Trail Strategic Metals Initiative

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedProcessing · Refining

—no gov.Date not stated

Vianode

up toUSD300 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationLoan guaranteePublicAnnouncedProcessingambiguity noted

IN29 Jan 2025

Indian public-sector undertakings ("PSUs, etc.")

INR180 billion

National Critical Mineral Mission

Expected co-investmentInstrument not specifiedPublic enterpriseAnnouncedambiguity noted

JP7 Mar 2023

Lynas Rare Earths Limited

AUD200 million

Lynas mid-term growth plan: light rare earths production capacity expansion and heavy rare earths separation commencement

CommitmentEquityMixed public-private vehicleDisbursed

JPDate not stated

Lynas Rare Earths Limited

No amount stated

JARE additional equity investment in Lynas and heavy rare earth offtake

CommitmentOfftakeNot statedContractedSeparation

—no gov.20 Oct 2025

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

USD8.5 billion

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

Total project costInstrument not specifiedNot statedAnnounced

US21 Nov 2025

US Department of Commerce, CHIPS Program Office

USD50 million

Purchase of equipment, in parallel with OSC's financing

Non-binding indicationInstrument not specifiedPublicAnnouncedambiguity noted

—no gov.26 Aug 2025

MP Materials Corp.

at leastUSD1 billion

10X Facility

Private financingLoanPrivateLapsed

—no gov.9 Jul 2025

MP Materials Corp.

up toUSD600 million

10X Facility; Samarium Project; Mountain Pass Facility Improvements (HREE refining and hydrochloric acid facilities); Independence Facility capacity expansion

Recipient's own fundsInstrument not specifiedPrivateDecidedRefining · Component manufacturing

Value roles here: Non-binding indication, Expected co-investment, Commitment, Total project cost, Private financing, Recipient's own funds.

Where the money is aimed

Financial rows by providing actor and supply-chain stage. Counts of records, not of money.

Number of financial rows by actor and supply-chain stage
Actor	Exploration	Mining	Separation	Processing	Refining	Component manufacturing	Recycling	Stockpiling	Research and development
United States	·	10	4	15	12	10	1	·	·
European Union	·	1	·	2	·	1	·	·	1
Australia	·	1	1	4	1	·	·	1	·
Japan	1	1	1	1	3	·	·	·	·
Canada	4	4	4	10	4	·	8	·	4
United Kingdom	·	4	·	3	·	·	·	·	·
India	1	1	·	1	·	·	1	1	1

17 of 96 rows name no stage (the source does not say which stage the money goes to) and are not shown; 4 staged rows are private or otherwise not government capital and are left out of the actor rows.

All financial rows

Every row, filterable. Data as of 2026-11-03.

ActorValue roleInstrumentCapital sourceFinancial statusSupply-chain stageMaterial

96 of 96 financial rows

Nest parts under their packages

AU20 Oct 2025

Alcoa-Sojitz Gallium Recovery Project

No amount stated

Gallium recovery at the Alcoa-Sojitz project

CommitmentOfftakePublicAnnouncedProcessingambiguity noted

AUDate not stated

Australian Government (Critical Minerals Facility)

AUD5 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeSeveral instruments, split not statedPublicNot stated

AU12 Jan 2026

↳ drawn from Australian Government (Critical Minerals Facility)

Australian Government (Department of Industry, Science and Resources, with Export Finance Australia)

AUD1 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeInstrument not specifiedPublicAnnounced

AU14 Feb 2025

Constitutional corporations with registered CMPTI processing activities

No amount stated

Future Made in Australia (Production Tax Credits and Other Measures) Act 2025

CommitmentTax creditPublicAuthorizedProcessing · Refining

AU12 Jan 2026

Australian Government

AUD1.2 billion

Critical Minerals Strategic Reserve — initial minerals

Program envelopeSeveral instruments, split not statedPublicAnnounced

AUDate not stated

↳ part of Australian Government

Australian Government

AUD185 million

Critical Minerals Strategic Reserve — initial minerals

Budget appropriationStockpile purchasePublicAllocatedStockpilingambiguity noted

CA20 Jan 2026

Cyclic Materials Inc.

USD25 million

Kingston Centre of Excellence for Rare Earth Recycling

CommitmentEquityPublic enterpriseContractedProcessing · Recycling · Research and development

CA8 Jul 2024

NORAM Electrolysis Systems Inc.

CAD4.5 million

Electrolysis for Lithium Production and Recycling

CommitmentInstrument not specifiedPublicContractedProcessing

CA11 Jul 2024

Saltworks Technologies Inc.

CAD4.9375 million

Concentration and conversion of Canadian lithium brine into lithium battery precursors

CommitmentInstrument not specifiedPublicAnnouncedProcessing

CA9 Dec 2022

Government of Canada

up toCAD3.8 billion

The Canadian Critical Minerals Strategy

Budget appropriationInstrument not specifiedPublicAnnouncedExploration · Processing · Recycling · Research and development

CA4 Sep 2024

↳ drawn from Government of Canada

Cyclic Materials Incorporated and Green Graphite Technologies Inc.

aboutCAD8.4 million

Government of Canada Supporting Critical Minerals Processing in Kingston

CommitmentInstrument not specifiedPublicAnnouncedRecycling

CA17 Jul 2024

↳ part of Cyclic Materials Incorporated and Green Graphite Technologies Inc.

Cyclic Materials Incorporated

CAD4.893125 million

Demonstration plant producing high-purity mixed rare earth oxide and a cobalt–nickel mixed hydroxide product from recycled materials

CommitmentInstrument not specifiedPublicContractedRecycling

CA9 Aug 2024

↳ part of Cyclic Materials Incorporated and Green Graphite Technologies Inc.

Green Graphite Technologies Inc.

CAD3.5 million

Demonstrating GraphRenew technology to recover graphite from secondary sources and upgrade it to lithium-ion battery-grade graphite

CommitmentInstrument not specifiedPublicContractedRecycling

CA1 Sep 2025

Cyclic Materials Inc.

CAD5 million

Kingston Centre of Excellence for Rare Earth Recycling

CommitmentInstrument not specifiedPublicContractedRecycling

CA31 Oct 2025

Focus Graphite

up toCAD14.1 million

Chemical-free electrothermal purification project for natural flake graphite

CommitmentInstrument not specifiedPublicDecidedProcessingambiguity noted

CA20 Dec 2024

Nouveau Monde Graphite

at leastCAD35 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

CommitmentEquityPublic enterpriseDisbursedMiningambiguity noted

CADate not stated

Nouveau Monde Graphite

up toUSD430 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedMiningambiguity noted

CA13 May 2026

Nouveau Monde Graphite

No amount stated

Matawinie Mine

CommitmentOfftakePublicContractedMining

CA31 Oct 2025

Northern Graphite and Rain Carbon Canada

CAD860,000

Research project on upcycled natural graphite for battery anodes

CommitmentInstrument not specifiedPublicAnnouncedResearch and development

CA31 Oct 2025

NTwist Inc.

CAD500,000

Nickel production and efficiency R&D project

CommitmentInstrument not specifiedPublicAnnouncedResearch and development

CA1 Sep 2024

Telescope Innovations Corp.

CAD319,200

Li-PICK - Energy Efficient Battery Recycling Enabled by Recrystallization

CommitmentInstrument not specifiedPublicContractedRecycling

CA31 Oct 2025

up toCAD26.3 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

CommitmentGrantPublicDecidedSeparation · Refiningambiguity noted

CADate not stated

Vianode

up toUSD500 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedProcessingambiguity noted

CA2 Mar 2026

Cyclic Materials Inc.

up toCAD9.1 million

Kingston Centre of Excellence for Rare Earth Recycling

CommitmentGrantPublicDecidedSeparation · Processing · Recycling

CA3 Mar 2026

Green Graphite Technologies Inc. (GGT)

CAD4.75 million

Battery-Grade Graphite: A Canadian Low-GHG Solution From Regolith Resources

CommitmentInstrument not specifiedPublicAnnouncedProcessingambiguity noted

CA3 Mar 2026

New Brunswick Geological Survey

CAD172,000

Geochronology and Petrogenesis of Granitoids and Related Critical Mineral Systems in New Brunswick

CommitmentInstrument not specifiedPublicAnnouncedExplorationambiguity noted

CA3 Mar 2026

New Brunswick Geological Survey

CAD232,600

Critical Mineral Potential of the Maritimes Basin in Eastern New Brunswick

CommitmentInstrument not specifiedPublicAnnouncedExplorationambiguity noted

CA3 Mar 2026

Nova Scotia Department of Natural Resources

CAD97,000

Graphite in Support of Battery Value Chains

CommitmentInstrument not specifiedPublicAnnouncedExplorationambiguity noted

CA3 Mar 2026

Defense Metals Corp.

CAD1.87825 million

Wicheeda REE Clean Energy and Transportation Infrastructure Project

CommitmentInstrument not specifiedPublicDecidedMiningambiguity noted

CA7 Jul 2026

Teck Resources Limited

up toCAD400 million

Trail Strategic Metals Initiative

Non-binding indicationInstrument not specifiedPublic enterpriseAnnouncedProcessing · Refining

—no gov.Date not stated

Vianode

up toUSD300 million

Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains (G7 Critical Minerals Production Alliance, first round)

Non-binding indicationLoan guaranteePublicAnnouncedProcessingambiguity noted

—no gov.10 Feb 2025

Sarytogan Graphite Limited

AUD5 million

Sarytogan Graphite Strategic Project

CommitmentEquityPublicDisbursedMining

—no gov.30 Apr 2026

Sarytogan Graphite Limited

AUD1,396,581.12

Sarytogan Graphite Strategic Project

CommitmentEquityPublicDisbursedMining

EU20 Aug 2024

Keliber Technology Oy

EUR150 million

KELIBER LITHIUM

CommitmentLoanPublic enterpriseContractedMining · Processing

EU20 Dec 2024

UP CATALYST OU

EUR18 million

UP CATALYST GREEN GRAPHITE (IEU GT2): Gen 4 reactors and R&D

CommitmentLoanPublic enterpriseContractedProcessing · Research and development

EU31 Dec 2025

NPM Narva OÜ

aboutEUR14.8 million

Rare earths magnet project in Estonia

CommitmentGrantPublicPartially disbursedComponent manufacturingambiguity noted

EU3 Dec 2025

European Union (EU funds)

EUR3 billion

RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality

Program envelopeInstrument not specifiedPublicAnnouncedambiguity noted

IN29 Jan 2025

Government of India

INR163 billion

National Critical Mineral Mission

Program envelopeInstrument not specifiedPublicAuthorizedExploration · Mining · Processing · Recycling · Stockpiling · Research and development

IN29 Jan 2025

Indian public-sector undertakings ("PSUs, etc.")

INR180 billion

National Critical Mineral Mission

Expected co-investmentInstrument not specifiedPublic enterpriseAnnouncedambiguity noted

JP7 Mar 2023

Lynas Rare Earths Limited

AUD200 million

Lynas mid-term growth plan: light rare earths production capacity expansion and heavy rare earths separation commencement

CommitmentEquityMixed public-private vehicleDisbursed

JPDate not stated

Lynas Rare Earths Limited

No amount stated

JARE additional equity investment in Lynas and heavy rare earth offtake

CommitmentOfftakeNot statedContractedSeparation

JP18 Mar 2026

株式会社アライドマテリアル

aboutJPY7.5 billion

New tungsten reduction and carburisation facilities to raise production of tungsten powder and tungsten carbide powder.

CommitmentGrantPublicDecidedProcessingambiguity noted

JP7 Sep 2026

日本新金属株式会社

aboutJPY2 billion

Expanded tungsten hydrometallurgical refining facilities in Japan.

CommitmentGrantPublicAnnouncedRefiningambiguity noted

JP23 Jul 2026

TJ Namibia Rare Earths Corporation (special purpose company established by Toyota Tsusho)

up toCAD47.668 million

Lofdal heavy rare earth development project

CommitmentEquityPublicPartially disbursedExploration · Mining

JP29 Jul 2026

株式会社三徳

aboutJPY800 million

New smelting facilities in Japan to increase rare earth production.

CommitmentGrantPublicDecidedRefiningambiguity noted

JP19 May 2026

信越化学工業株式会社

aboutJPY17.5 billion

New smelting facilities in Japan to increase rare earth production.

CommitmentGrantPublicDecidedRefiningambiguity noted

GB22 Nov 2025

Department for Business and Trade

up toGBP50 million

Vision 2035: Critical Minerals Strategy

Program envelopeGrantPublicAnnouncedambiguity noted

GB25 Aug 2026

up toGBP35 million

Restart of production at the Hemerdon tungsten and tin mine

CommitmentLoanPublic enterpriseAnnouncedMining · Processing

US20 Oct 2025

Alcoa-Sojitz Gallium Recovery Project

No amount stated

Gallium recovery at the Alcoa-Sojitz project

CommitmentEquityPublicAnnouncedProcessingambiguity noted

US18 Aug 2023

Perpetua Resources Idaho, Inc.

aboutUSD27.1 million

Domestic antimony trisulfide process demonstration and modular pilot plant using Stibnite ore

CommitmentGrantPublicPartially disbursedProcessing

AU20 Oct 2025

Australian Government

at leastUSD1 billion

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

Program envelopeSeveral instruments, split not statedPublicAnnouncedMining · Separation · Processing

AU20 Oct 2025

↳ part of Australian Government

Alcoa-Sojitz Gallium Recovery Project

up toUSD200 million

Gallium recovery at the Alcoa-Sojitz project

CommitmentEquityPublicAnnouncedProcessingambiguity noted

AU1 Apr 2026

↳ part of Australian Government

Arafura Rare Earths Limited

USD100 million

Nolans rare earths project

CommitmentEquityPublicContractedambiguity noted

—no gov.20 Oct 2025

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

USD8.5 billion

United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths

Total project costInstrument not specifiedNot statedAnnounced

US20 Oct 2025

Stillwater Metal Project

CommitmentLoan guaranteePublicContractedRefiningambiguity noted

US21 Nov 2025

US Department of Commerce, CHIPS Program Office

USD50 million

Purchase of equipment, in parallel with OSC's financing

Non-binding indicationInstrument not specifiedPublicAnnouncedambiguity noted

US11 Apr 2024

5N+ Semiconductors

USD14.4 millionAnnounced

St. George space-qualified germanium substrate capacity expansion

CommitmentGrantPublicPartially disbursedRefining · Component manufacturing

US9 Jul 2025

MP Materials Corp.

up toUSD350 million

DoD–MP Materials public-private partnership for rare earth magnet supply

Funding optionEquityPublicOption executed · no exercise recorded

—no gov.26 Aug 2025

MP Materials Corp.

at leastUSD1 billion

10X Facility

Private financingLoanPrivateLapsed

—no gov.9 Jul 2025

MP Materials Corp.

up toUSD600 million

10X Facility; Samarium Project; Mountain Pass Facility Improvements (HREE refining and hydrochloric acid facilities); Independence Facility capacity expansion

Recipient's own fundsInstrument not specifiedPrivateDecidedRefining · Component manufacturing

US9 Jul 2025