Secure, Sovereign, Supplied? The New Critical Minerals Race

Critical minerals supply chains have moved from an efficiency problem to an economic-security and industrial-strategy problem. Export restrictions, geopolitical competition, volatile prices and heavy concentration in processing have made governments more willing to use public finance, strategic offtake, stockpiling and allied partnerships to create alternative supply. The challenge is translating sovereignty from policy intent into commercially durable projects. No country can be self-...