Weekly News Review August 10 – August 16 2026

The main developments in critical raw materials this quiet week came from North America. Neo Performance Materials, a Canadian company, is setting its sights on Europe and pushing ahead with expanding its magnet production capacity there.

USA: BILLIONS FOR CRITICAL MILLIONS PROJECTS –

The U.S. government has announced new financing worth billions of dollars for projects involving critical minerals and their downstream processing. According to a Fact Sheet published by the White House, the initiatives amount to more than $2 billion. In addition, more than $180 million will be allocated to universities and workforce training programs for the mining sector.

The largest individual item is a conditional loan commitment of $1.4 billion for Sila Nanotechnologies. The company plans to expand battery-material production and build a lithium-ion battery cell manufacturing facility. Further conditional loan commitments have been announced for Sunrise Energy Metals to establish a scandium supply chain and for Niron Magnetics to manufacture rare-earth-free permanent magnets.

Additional financing will support projects involving bauxite, graphite, boron, tantalum, niobium, and rare earths in the United States, Guyana, and Madagascar.

Two or Three Billion Dollars?

Questions remain regarding the overall amount. While the White House refers to more than $2 billion, U.S. President Donald Trump stated that the figure was $3 billion, and media reports repeated that number.

The company financing commitments listed in the Fact Sheet total roughly $2.1 billion and consist largely of conditional loan commitments. Bloomberg also reports a possible financing package for a copper project that is not included in the Fact Sheet. It therefore remains unclear how the $3 billion figure is calculated.

USA Intensifies Intervention in Raw Materials Markets:

The new financing continues a broader series of government measures to secure mineral supply chains. In February, the United States announced Project Vault, a $12 billion strategic raw materials reserve for industry. A few days later, the administration presented representatives from 54 countries and the European Union with plans for a preferential trade zone featuring minimum prices for critical minerals. Expanded recycling is also intended to reduce import dependence, and Washington is currently restricting exports of mineral-bearing scrap materials.

USA: BANK OF AMERICA AIMS TO MOBILIZE $250 BILLION FOR RARE EARTHS PROJECTS –

Bank of America (BofA) has announced a new “Critical Infrastructure Finance Initiative” to mobilize $250 billion for strategically important infrastructure projects in the United States. The initiative covers sectors including data centers and digital infrastructure, semiconductors, energy generation and storage, natural gas, water, transportation, and critical raw materials and mining.

The financing is expected to include loans, investments, capital-markets financing, and a range of additional banking and advisory services for both public and private projects. The announced $250 billion does not represent a standalone fund; rather, it is the targeted aggregate volume of financing activities supported under the initiative.

The amount and timeline were chosen deliberately for their symbolic significance. The initiative follows the celebrations marking the 250th anniversary of the United States and is scheduled to run until July 4, 2027.

CANADA: HIGH PRICES FOR TECHNOLOGY METALS BOOST NEO PERFORMANCE METALS:

Neo Performance Materials posted strong growth in the second quarter of 2026. The Canadian rare earths and critical materials specialist benefited from robust demand and a continued favorable pricing environment.

Revenue rose by around 79% year on year to $205.7 million. The Rare Metals segment once again recorded particularly strong performance. According to the company’s results, this was driven by record prices for hafnium, gallium and tantalum, combined with robust sales volumes and continued tightness in global supply.

Neo also made progress in its magnet business. Shipments of polymer-bonded magnets at its Magnequench division increased by 35% year on year. Meanwhile, the company is advancing the expansion of its magnet production operations in Estonia. Samples are already being delivered to customers for qualification, with commercial production expected to begin later this year.

Neo remains confident about the full year.

The company significantly raised its earnings guidance in July and now expects results at the upper end of the forecast range.