From commitments to construction
A signed financing agreement and a working plant are not the same outcome. This view places financial standing beside documented implementation for each government-backed project, without converting currencies, scoring success or claiming that one policy instrument caused a physical milestone.
Corpus revision: 3 November 2026 · Financial standing evidenced by that date · Physical status from the current source-linked record (not a historical as-of reconstruction)
- Registered projects
- 102
- With direct government commitment
- 43
- With binding instrument
- 24
- Construction or later reported
- 11
Two independent forms of evidence
Each project appears in exactly one cell. Binding means at least one recorded government commitment is contracted, partly disbursed or disbursed. Construction and later refer to implementation entries, regardless of who provided the funding.
| Financial standing | Construction or later reported | Other implementation status reported | No usable physical milestone recorded |
|---|---|---|---|
| Binding public instrument recorded | 9 | 4 | 11 |
| Binding public instrument not established | 2 | 5 | 12 |
Recorded is not necessarily built. 11 projects have an implementation entry at construction or later;10 remain under a stricter reading excluding 1 funded-activity completion that does not independently establish construction of the facility.
Not recorded is not inactive. 23 projects in the government-commitment denominator have no usable physical milestone recorded. This is a documentation gap, not evidence that work has stopped.
Material-level evidence
Distinct project counts within each material, not additive across materials: a project tagged to several materials appears in each row. No money is totalled or converted.
| Material | Government-backed projects | Binding recorded | Construction or later | Strict |
|---|---|---|---|---|
| Antimony | 5 | 4 | 2 | 2 |
| Cobalt | 1 | 1 | 1 | 0 |
| Dysprosium | 2 | 2 | 0 | 0 |
| Gallium | 2 | 1 | 1 | 1 |
| Germanium | 2 | 1 | 0 | 0 |
| Graphite | 6 | 2 | 2 | 2 |
| Lithium | 9 | 5 | 2 | 2 |
| Nickel | 2 | 1 | 1 | 0 |
| Rare earth elements (grouped) | 13 | 8 | 2 | 1 |
| Rare-earth permanent magnets (NdFeB) | 4 | 4 | 2 | 2 |
| Terbium | 2 | 2 | 0 | 0 |
| Tungsten | 4 | 0 | 0 | 0 |
Project evidence register
Each project and status links to its supporting records. Financial entries are evaluated as of the corpus revision; physical entries are the latest recorded in this dataset revision.
Binding public instrument recorded · Construction or later reported(9)
Rare-earth permanent magnets (NdFeB)
Financial — binding evidenced
Physical — recorded status
Antimony
Financial — binding evidenced
Physical — recorded status
Lithium
Financial — binding evidenced
- Contracted · 2024-08-20 · source: KELIBER BATTERY GRADE LITHIUM PRODUCTION
Physical — recorded status
Rare earth elements (grouped)
Financial — binding evidenced
- Contracted · 2026-01-20 · source: Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain
- Contracted · 2025-09-01 · source: Grants and Contributions: Agreement 1019177
- Decided · 2026-03-02 · source: Canada secures 30 new critical minerals partnerships and unlocks $12.1 billion in mining project capital
Physical — recorded status
- Construction · 2026-01-20 · source: Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain
- Construction · 2026-01-20 · source: Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain
- Construction · 2026-01-20 · source: Canada Growth Fund Invests US$25 Million in Cyclic Materials to Strengthen Canada’s Rare Earth Supply Chain
Rare earth elements (grouped) · Cobalt · Nickel
Financial — binding evidenced
Physical — recorded status
- Completed · date not stated · source: Critical Minerals Research, Development and Demonstration Program
Completion refers to the funded activity, not independent proof that a plant was built.
Graphite
Financial — binding evidenced
Physical — recorded status
- Construction · 2026-04-13 · source: Management Discussion & Analysis for the six-month period ended June 30, 2026
- Construction · 2026-04-13 · source: Management Discussion & Analysis for the six-month period ended June 30, 2026
- Construction · 2026-04-13 · source: Management Discussion & Analysis for the six-month period ended June 30, 2026
Rare-earth permanent magnets (NdFeB)
Financial — binding evidenced
Physical — recorded status
Antimony
Financial — binding evidenced
- Disbursed · date not stated · source: Perpetua Resources Corp., Form 10-Q for the quarter ended June 30, 2026
- Decided · 2026-05-21 · source: EXIM Board Meeting Minutes — May 21, 2026
Physical — recorded status
Lithium
Financial — binding evidenced
Physical — recorded status
Binding public instrument recorded · Other implementation status reported(4)
Lithium
Financial — binding evidenced
Physical — recorded status
Rare earth elements (grouped) · Dysprosium · Terbium
Financial — binding evidenced
Physical — recorded status
Lithium
Financial — binding evidenced
Physical — recorded status
Germanium
Financial — binding evidenced
Physical — recorded status
Binding public instrument recorded · No usable physical milestone recorded(11)
Antimony
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Lithium
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Rare-earth permanent magnets (NdFeB)
Financial — binding evidenced
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — binding evidenced
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Graphite
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped) · Gallium · Dysprosium · Terbium
Financial — binding evidenced
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
Physical — recorded status
No supporting status entry recorded.Rare-earth permanent magnets (NdFeB)
Financial — binding evidenced
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — binding evidenced
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
- Contracted · 2026-06-03 · source: USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce
Physical — recorded status
No supporting status entry recorded.Antimony
Financial — binding evidenced
Physical — recorded status
No supporting status entry recorded.Binding public instrument not established · Construction or later reported(2)
Gallium
Financial — not yet binding
- Announced · 2025-10-20 · source: Historic critical minerals framework signed by President Trump and Prime Minister Albanese
- Announced · 2025-10-20 · source: Historic critical minerals framework signed by President Trump and Prime Minister Albanese
- Announced · 2025-10-20 · source: Historic critical minerals framework signed by President Trump and Prime Minister Albanese
Physical — recorded status
- Construction · 2026-08-24 · source: Australia, Japan, the United States and Alcoa Break Ground on Gallium Project in Western Australia
- Construction · 2026-08-24 · source: Australia, Japan, the United States and Alcoa Break Ground on Gallium Project in Western Australia
- Construction · 2026-08-24 · source: Australia, Japan, the United States and Alcoa Break Ground on Gallium Project in Western Australia
Graphite
Financial — not yet binding
Physical — recorded status
Binding public instrument not established · Other implementation status reported(5)
Tungsten
Financial — not yet binding
- Decided · date not stated · source: 重要鉱物助成金交付事業
Physical — recorded status
- Announced · 2026-04-09 · source: タングステンの供給能力を約1.5倍に増強 総額約159億円を投資、2028年度上期稼働へ
Lithium
Financial — not yet binding
Physical — recorded status
Germanium
Financial — not yet binding
Physical — recorded status
Rare earth elements (grouped)
Financial — not yet binding
- Decided · 2025-10-31 · source: Backgrounder: Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains
- Decided · 2025-10-31 · source: Backgrounder: Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains
- Decided · 2025-10-31 · source: Backgrounder: Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains
Physical — recorded status
- Announced · 2025-10-31 · source: Ucore Receives Conditional Approval from the Government of Canada for up to $36.3M for Canadian Rare Earth Processing
- Announced · 2025-10-31 · source: Ucore Receives Conditional Approval from the Government of Canada for up to $36.3M for Canadian Rare Earth Processing
- Announced · 2025-10-31 · source: Ucore Receives Conditional Approval from the Government of Canada for up to $36.3M for Canadian Rare Earth Processing
Rare earth elements (grouped)
Financial — not yet binding
Physical — recorded status
Binding public instrument not established · No usable physical milestone recorded(12)
Lithium
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Graphite
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped) · Lithium
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Tungsten · Lithium
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Graphite
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Tungsten
Financial — not yet binding
- Announced · 2026-08-25 · source: National Wealth Fund backs Tungsten West to unlock critical UK tungsten supply
- Announced · 2026-08-25 · source: National Wealth Fund backs Tungsten West to unlock critical UK tungsten supply
- Announced · 2026-08-25 · source: National Wealth Fund backs Tungsten West to unlock critical UK tungsten supply
- Announced · 2026-08-25 · source: National Wealth Fund backs Tungsten West to unlock critical UK tungsten supply
Physical — recorded status
No supporting status entry recorded.Tungsten
Financial — not yet binding
- Announced · 2026-09-07 · source: 重要鉱物（経済安全保障推進法に基づく認定供給確保計画）
Physical — recorded status
No supporting status entry recorded.Nickel
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — not yet binding
- Decided · date not stated · source: 重要鉱物助成金交付事業
Physical — recorded status
No supporting status entry recorded.Rare earth elements (grouped)
Financial — not yet binding
- Decided · date not stated · source: 重要鉱物助成金交付事業
Physical — recorded status
No supporting status entry recorded.Antimony
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Graphite
Financial — not yet binding
Physical — recorded status
No supporting status entry recorded.Interpretation and boundaries
A deliberately conservative reading of what the records can demonstrate.
What is counted
One registered project with at least one directly linked, as-of-evidenced, non-ended government commitment. Financing may have no stated amount. A financing package and its child allocations cannot count the same project twice. 46 of 102 projects have some direct financial linkage; the matrix's 43 projects meet its narrower government-commitment test.
What is not counted
Project designations alone, private financing, non-binding indications, programme ceilings, unknown legal recipients, and unsplit money linked through non-allocative shared project associations cannot qualify a project. 6 project associations are kept outside the direct-financing denominator; 13 government commitment rows lack a singular project link and are not allocated by guesswork.
The status of a financing agreement and the status of an industrial undertaking are different observations. Sources can report construction before a loan is signed, or describe an executed award without a construction update. This view cannot establish which government intervention caused which industrial outcome, nor retrospectively reconstruct the project register as it existed in prior years. For financial status, undated source statements enter the as-of view at their conservative evidence boundary, not at an invented signing date. See the counting rules and government portfolios for the complementary financial analysis.