The Department of State and nonprofit organization SAFE have established a public-private partnership that aims to spur investment in the responsible and sustainable mining and utilization of critical minerals to achieve the country’s clean energy goals.
The Minerals Investment Network for Vital Energy Security and Transition will provide funding opportunities in mining, processing and recycling of lithium and other elements essential to renewable power generation, the department said Friday.
With demand for critical minerals projected to increase four to six times by 2040, the agency is creating environmental, social and governance standards to ensure a transparent, diverse, secure and stable supply chain for such commodities.
MINVEST is led in part by SAFE’s Center for Critical Minerals Strategy and aligns with the State Department’s commitment to the Minerals Security Partnership.
The agency has launched a page on its website to further discuss MINVEST and encourage participation of stakeholders from both the public and private sectors.