US DFC announces $25m investment in TechMet
The US International Development Finance Corp has made a $25 million investment into TechMet, a private investment company with a portfolio of projects that produce, process and recycle metals tied to the production of electric vehicles renewable energy systems and energy storage.
The funds will be used to bring into initial commercial production one of TechMet’s core investments, Brazilian Nickel, which will be a low-cost nickel-cobalt producer in Piaui, in north-eastern Brazil.
Piaui is a nickel laterite heap leaching project that has a combined measured and indicated JORC compliant resource of 72 Mt at 1% Ni and 0.05% Co. Brazilian Nickel has previously completed a large-scale demonstration of the heap leaching, purification and recovery of nickel and cobalt from the Piaui ore.
The DFC investment, part of TechMet’s Round 2 equity raising, follows US President Donald Trump signing an Executive Order and declaring a National Emergency to expand the domestic mining industry, support mining jobs, alleviate unnecessary permitting delays, and reduce the US’ dependence on China for critical minerals.
