Government Launches Commodity Fund - Additional Funds from Private Investors - Germany’s €1.9 Billion Raw Materials Fund Secures Critical Supply Chains
The German government has launched a raw materials fund, with Minister of Economic Affairs Katherina Reiche announcing a €100 million investment for rare earth mining in Australia and a €150 million partnership with Canada for copper and gold mining. The total investment volume exceeds €500 million.
The fund, which aims to secure critical raw materials, has received a significant boost from private investors. They have pledged an additional €1.7 billion, making the total fund €1.9 billion. This means for every euro the government provides, private investors contribute nine more. The fund will support rare earth mining in Australia and copper and gold mining in partnership with Canada.
The raw materials fund, with its substantial investment and private sector support, is set to strengthen Germany's supply chains for critical raw materials. The fund's focus on Australia and Canada, along with the significant private investment, underscores the importance of these partnerships in securing a stable and sustainable supply.