(Kitco News) - Funding for critical mineral projects by private companies is taking time to arrive, said Jamie Strauss, founder and CEO of Digbee.
Strauss spoke to Kitco Mining on Tuesday at THE Mining Investment Event of the North in Quebec City.
Digbee helps companies measure, manage and disclose their ESG ratings. They also offer mining data analysis.
Western governments have implemented critical mineral strategies with the goal to reduce reliance on single-source suppliers, particularly those with geopolitical risks. In August 2022 the Biden administration passed the Inflation Reduction Act, which provided funds for domestic energy production that promoted clean energy.
Government funding is there, but private funding is lacking, noted Stauss. He said that the capital base for the miners has fallen about 75% in the past two decades. The recent bull market in some metals like copper should spur investment.
"There's still some inertia...in terms of getting this capital moving despite the urgency of critical minerals," said Strauss. "We're not quite there yet, but it's definitely coming."
Coverage of the THE Mining Investment Event of the North is sponsored by EMX Royalty.
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