Reported 3 days ago
The US government is evaluating a potential loan of up to $550 million to support the development of a nickel and cobalt mine in Brazil's Northeast, specifically the Piauí Nickel Project. This funding, which could cover nearly 40% of the project's total costs, aims to bolster critical mineral supply chains and reduce reliance on China for essential metals. Brazilian Nickel Ltd. anticipates transitioning the US funding interest into a formal financing agreement by early 2025.
Source: YAHOO