US Mulls Backing Brazilian Nickel Plant With Up to $550 Million
- Amount would be almost 40% of project’s financing package
- US tries to reduce dependence on China for critical minerals
This article is for subscribers only.
The US government is considering whether to provide a loan of up to $550 million to help develop a nickel and cobalt mine in Brazil’s Northeast.
Brazilian Nickel Ltd. has received a letter from the US International Development Finance Corporation expressing its interest in backing the Piauí Nickel Project. The company expects to convert the letter of interest into a committed financing facility in early 2025. The amount represents almost 40% of the project’s overall financing package, it said in a statement.