# Investment pipeline: planned and under-construction projects with a publicly announced capital cost,
# public financial backing, or both. Hand-read on 2026-11-13; a short list, not a census.
#
# Every fact is one statement on one page: url, date, publisher and the publisher's own words (quote, at most
# 30 words). The pages were saved as text when read; pipeline/extracts/announcements/SOURCE.json holds their
# checksums, and wherever the texts are on disk the build checks every quote word for word. An amount must be
# printed in its quote unless `amount_check` says why not. Nothing here is typed from memory.
#
# - `status` is ours (planned | construction); `status_fact.as_printed` is the publisher's wording on that date.
# - `stage_as_printed` says how firm a backing is. A letter of interest or a conditional commitment is not a loan.
# - Amounts stay in the currency of the statement and are never converted or added up.
# - eib.org is link-only (its terms of use forbid republication): no figure is taken from it. Where a project has
#   an EIB page, `links` holds its address and nothing else. No openly reusable source for those figures was found.
#
# Read and left out:
#   keliber-lithium: construction was completed in April 2026 (Finnish Minerals Group), so it is no longer planned or under construction
#   skouries: first concentrate was produced in September 2026; the status page is undated
#   pirdop-tankhouse-expansion: its status and loan were read on eib.org only, which is link-only
#   metlen-gallium-bauxite: its status, cost and loan were read on eib.org only, which is link-only
#   vulcan-lionheart: backing by European Investment Bank (read on a link-only site)
#   vulcan-lionheart: backing by German government (read on a link-only site)
#   vulcan-lionheart: announced capital cost (read on a link-only site)
#   talga-vittangi-anode: backing by European Investment Bank (read on a link-only site)
#   Westwater Resources, graphite, Alabama: company site answered 403 for the release needed for capex and status; only the EXIM statement was read
#   Serra Verde, Pela Ema rare earths mine, Brazil: source describes optimizing and expanding an existing mine; no capex and no planned/construction status read
#   Cove Kaz Capital, Severniy Katpar Tungsten Mine, Kazakhstan: letters of interest only; no project status and no capex read
#   Seven Australian projects (rare earths, graphite and others): EXIM gives only a combined total, no per-project amount
#   Zinnwald Lithium, Jadar, Viscaria, Talon Metals, Arafura Nolans: no capital cost or current standing read on a primary page
projects:
  - id: thacker-pass
    name: Thacker Pass
    company: Lithium Americas Corp.
    country_iso3: USA
    place: Humboldt County, Nevada
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: Thacker Pass lithium project
    status: construction
    status_fact:
      as_printed: major construction of the processing plant at Thacker Pass Phase 1
      date: "2026-05-14"
      url: https://lithiumamericas.com/news/news-details/2026/Lithium-Americas-Reports-First-Quarter-2026-Results/default.aspx
      quote: The Company continues to progress major construction of the processing plant at Thacker Pass Phase 1, targeting mechanical completion in late 2027.
      source_file: lac-q1-2026-results.txt
      publisher: Lithium Americas Corp.
    capex:
      amount: 2930000000
      currency: USD
      what_it_covers: total Capex estimate per the Company's Technical Report (effective December 31, 2024), Thacker Pass Phase 1; source says it did not include any exposure to tariffs
      date: "2026-05-14"
      url: https://lithiumamericas.com/news/news-details/2026/Lithium-Americas-Reports-First-Quarter-2026-Results/default.aspx
      quote: of which $1.1 billion is part of the total Capex estimate of $2.93 billion per the Company’s Technical Report.
      source_file: lac-q1-2026-results.txt
      publisher: Lithium Americas Corp.
    backing:
      - body: U.S. Department of Energy, Loan Programs Office
        instrument: loan
        stage_as_printed: closed
        amount: 2260000000
        currency: USD
        date: "2025-03-28"
        url: https://lithiumamericas.com/news/news-details/2025/Lithium-Americas-Reports-2024-Full-Year-Results/default.aspx
        quote: Loan Programs Office closed a $2.26 billion loan under the Advanced Technology Vehicles Manufacturing Loan Program
        source_file: lac-2024-full-year-results.txt
        publisher: Lithium Americas Corp.
        note: the statement dates the event itself to 2024-10-28
      - body: U.S. Department of Energy, Loan Programs Office
        instrument: equity
        stage_as_printed: restructured its deal; 5% equity ownership in the form of LAC warrants
        date: "2025-09-30"
        url: https://www.energy.gov/articles/department-energy-restructures-lithium-americas-deal-protect-taxpayers-and-onshore
        quote: The new terms provide the U.S. Government with 5% equity ownership in the form of LAC warrants
        source_file: doe-lithium-americas-restructure-2025.txt
        publisher: U.S. Department of Energy
      - body: U.S. Department of Energy
        instrument: loan
        stage_as_printed: Project financing for Phase 1 includes a $2.23 billion loan
        amount: 2230000000
        currency: USD
        date: "2026-05-14"
        url: https://lithiumamericas.com/news/news-details/2026/Lithium-Americas-Reports-First-Quarter-2026-Results/default.aspx
        quote: Project financing for Phase 1 includes a $2.23 billion loan from the U.S. DOE and strategic investments from GM and Orion.
        source_file: lac-q1-2026-results.txt
        publisher: Lithium Americas Corp.
  - id: rhyolite-ridge
    name: Rhyolite Ridge Lithium-Boron Project
    company: Ioneer
    country_iso3: USA
    place: Nevada
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: Rhyolite Ridge Lithium-Boron Project
    status: planned
    status_fact:
      as_printed: the Board will be positioned to consider a Final Investment Decision (FID)
      date: 2026-08
      url: https://www.ioneer.com/wp-content/uploads/2026/08/Rhyolite-Ridge-Quarterly-Newsletter-August-2026.pdf
      quote: the Board will be positioned to consider a Final Investment Decision (FID) and move into early construction work
      source_file: ioneer-newsletter-2026-08.txt
      publisher: Ioneer
      note: newsletter prints only AUGUST 2026
    capex:
      amount: 1683000000
      currency: USD
      what_it_covers: "AACE Class 2 capital cost estimate (-10%, +15%) including a 10% contingency; table row: Initial capital expenditure (including contingencies) US$M 1,683.2"
      date: "2025-10-29"
      url: https://www.ioneer.com/investors/dfs-summary-2025-update/
      quote: U.S.$1,683 million – AACE Class 2 capital cost estimate (-10%, +15%) including a 10% contingency
      source_file: ioneer-dfs-summary-2025.txt
      publisher: Ioneer
      note: web page is undated; it says the metrics were originally published in Ioneer's announcement on October 29, 2025
    backing:
      - body: U.S. Department of Energy, Office of Energy Dominance Financing (formerly Loan Programs Office)
        instrument: loan
        stage_as_printed: closed
        amount: 996000000
        currency: USD
        date: "2025-12-19"
        url: https://www.ioneer.com/wp-content/uploads/2025/12/Ioneer_Year_End_2025_Release_FINAL.pdf
        quote: In January, Rhyolite Ridge closed a US$996 million loan with the U.S. Department of Energy
        source_file: ioneer-year-end-2025.txt
        publisher: Ioneer
        note: the statement dates the event itself to 2025-01
      - body: U.S. Department of Energy, Office of Energy Dominance Financing (formerly Loan Programs Office)
        instrument: loan
        stage_as_printed: has conditions to first draw
        date: "2025-12-19"
        url: https://www.ioneer.com/wp-content/uploads/2025/12/Ioneer_Year_End_2025_Release_FINAL.pdf
        quote: $968 million in principal and $28 million in capitalised interest and has conditions to first draw
        source_file: ioneer-year-end-2025.txt
        publisher: Ioneer
  - id: south-west-arkansas
    name: South West Arkansas Project
    company: Smackover Lithium
    country_iso3: USA
    place: southern Arkansas
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: Direct Lithium Extraction
    status: planned
    status_fact:
      as_printed: expects to take FID by the end of the first quarter of 2027
      date: "2026-11-13"
      url: https://www.standardlithium.com/projects/smackover/south-west-arkansas/
      quote: Smackover Lithium expects to take FID by the end of the first quarter of 2027, with construction beginning shortly thereafter
      source_file: sli-swa-project.txt
      publisher: Standard Lithium Ltd.
      note: project web page is undated; date is the fetch date
    capex:
      amount: 1450000000
      currency: USD
      what_it_covers: All-in Class III capex estimate (Definitive Feasibility Study), includes a 12.3% contingency
      date: "2026-11-13"
      url: https://www.standardlithium.com/projects/smackover/south-west-arkansas/
      quote: All-in Class III capex estimate of $1.45 billion includes a 12.3% Monte Carlo risked contingency.
      source_file: sli-swa-project.txt
      publisher: Standard Lithium Ltd.
      note: project web page is undated; date is the fetch date; page refers to a DFS press release dated September 3, 2025
    backing:
      - body: U.S. Department of Energy, Office of Manufacturing & Energy Supply Chains
        instrument: grant
        stage_as_printed: closed
        amount: 225000000
        currency: USD
        date: "2025-01-16"
        url: https://www.standardlithium.com/news/standard-lithium-and-equinor-finalize-225-million-grant-from-the-us-department-of-energy-for-the-south-west-arkansas-project
        quote: has closed the US$225 million grant from the U.S. Department of Energy’s
        source_file: sli-doe-grant-final.txt
        publisher: Standard Lithium Ltd.
  - id: stibnite-gold-project
    name: Stibnite Gold Project
    company: Perpetua Resources Corp.
    country_iso3: USA
    place: Valley County, Idaho
    materials:
      - antimony
    kind: mine_and_processing
    kind_as_printed: Stibnite Gold Project
    status: construction
    status_fact:
      as_printed: early works construction; Final Investment Decision expected in the second half of 2026
      date: "2026-05-11"
      url: https://perpetuaresources.com/wp-content/uploads/Perpetua-Resources-Q1-2026-PR.pdf
      quote: continued early works construction and began procurement for long-lead time items ahead of our Final Investment Decision expected in the second half of 2026
      source_file: perpetua-q1-2026.txt
      publisher: Perpetua Resources Corp.
    capex:
      amount: 2576000000
      currency: USD
      what_it_covers: Initial Capital, including contingency; exclusive of pre-production revenue (Technical Report Summary as of December 31, 2025)
      date: "2026-03-31"
      url: https://perpetuaresources.com/wp-content/uploads/U.S.-EXIMs-Board-Advances-Proposed-2.7-Billion-Loan-to-Congressional-Notice-Perpetua-Announces-Improved-Project-Economics_March-31-2026.pdf
      quote: Initial Capital, reflects estimated total capital expenditures of $2,576 million as of December 31, 2025, including a contingency of $191.9 million
      source_file: perpetua-exim-2026-03-31.txt
      publisher: Perpetua Resources Corp.
    backing:
      - body: Export-Import Bank of the United States
        instrument: loan
        stage_as_printed: unanimously agreed to notify Congress of a proposed
        amount: 2700000000
        currency: USD
        date: "2026-03-31"
        url: https://perpetuaresources.com/wp-content/uploads/U.S.-EXIMs-Board-Advances-Proposed-2.7-Billion-Loan-to-Congressional-Notice-Perpetua-Announces-Improved-Project-Economics_March-31-2026.pdf
        quote: unanimously agreed to notify Congress of a proposed $2.7 billion senior secured long-term loan
        source_file: perpetua-exim-2026-03-31.txt
        publisher: Perpetua Resources Corp.
      - body: Export-Import Bank of the United States
        instrument: loan
        stage_as_printed: unanimously approved
        amount: 2900000000
        currency: USD
        date: "2026-05-21"
        url: https://perpetuaresources.com/wp-content/uploads/Perpetua-Resources-EXIM-press-release-May-21-2026-FINAL.pdf
        quote: has unanimously approved a $2.9 billion senior secured long-term loan
        source_file: perpetua-exim-2026-05-21.txt
        publisher: Perpetua Resources Corp.
  - id: graphite-creek
    name: Graphite Creek Project
    company: Graphite One Inc.
    country_iso3: USA
    place: north of Nome, Alaska
    materials:
      - graphite
    kind: mine
    kind_as_printed: Graphite Creek mine development
    status: planned
    status_fact:
      as_printed: Management’s current plan is for graphite to be mined
      date: "2025-11-13"
      url: https://www.graphiteoneinc.com/wp-content/uploads/2026/01/Q3-2025-MDA-Final-1.pdf
      quote: Management’s current plan is for graphite to be mined from the Company’s Graphite Creek Property
      source_file: graphiteone-q3-2025-mda.txt
      publisher: Graphite One Inc.
    backing:
      - body: Export-Import Bank of the United States
        instrument: letter_of_interest
        stage_as_printed: Letter of Interest
        amount: 670000000
        currency: USD
        date: "2026-01-05"
        url: https://www.exim.gov/news/exim-delivers-for-america-2025
        quote: approving a $670 million Letter of Interest for Graphite One Inc. (G1) to support financing of the Company's Graphite Creek Project
        source_file: exim-delivers-2025.txt
        publisher: Export-Import Bank of the United States
        note: the statement dates the event itself to 2025-12-18
      - body: Export-Import Bank of the United States
        instrument: letter_of_interest
        stage_as_printed: non-binding and conditional and does not represent a financing commitment
        date: "2025-12-18"
        url: https://www.graphiteoneinc.com/exim-bank-increases-letters-of-interest-for-the-graphite-one-supply-chain-to-2-07-billion/
        quote: Investors should be aware that the LoI is non-binding and conditional and does not represent a financing commitment.
        source_file: graphiteone-exim-2-07b.txt
        publisher: Graphite One Inc.
      - body: U.S. Department of Defense (Defense Production Act)
        instrument: grant
        stage_as_printed: drew down the remaining
        amount: 37500000
        currency: USD
        date: "2025-11-13"
        url: https://www.graphiteoneinc.com/wp-content/uploads/2026/01/Q3-2025-MDA-Final-1.pdf
        quote: the U.S. Department of Defense’s $37.5 million Technology Investment Agreement grant under the Defense Production Act
        source_file: graphiteone-q3-2025-mda.txt
        publisher: Graphite One Inc.
  - id: elk-creek
    name: Elk Creek Project
    company: NioCorp Developments Ltd.
    country_iso3: USA
    place: southeast Nebraska
    materials:
      - rare-earths
    kind: mine_and_processing
    kind_as_printed: Processing Plant and Mining Operation Producing Eight Critical Minerals
    status: planned
    status_fact:
      as_printed: subject to satisfactory completion of EXIM’s current due diligence review of NioCorp’s application for debt financing
      date: "2026-10-15"
      url: https://www.niocorp.com/exim-reiterates-target-to-finance-approximately-65-of-elk-creek-project-upfront-capex/
      quote: subject to satisfactory completion of EXIM’s current due diligence review of NioCorp’s application for debt financing
      source_file: niocorp-exim-65pct.txt
      publisher: NioCorp Developments Ltd.
    capex:
      amount: 1850000000
      currency: USD
      what_it_covers: "Upfront Capital Estimate (2026 Feasibility Study); table row: Total Upfront CAPEX ($M) $1,849"
      date: "2026-08-10"
      url: https://www.niocorp.com/niocorp-project-to-expand-production-to-8-made-in-usa-critical-minerals-over-a-40-year-mine-life-with-an-estimated-4-1-billion-pre-tax-npv8%C2%B9/
      quote: Upfront Capital Estimate of $1.85 Billion Reflects a Substantially Redesigned Processing Plant and Mining Operation
      source_file: niocorp-fs-2026.txt
      publisher: NioCorp Developments Ltd.
    backing:
      - body: Export-Import Bank of the United States
        instrument: other
        stage_as_printed: letter of support
        date: "2026-10-15"
        url: https://www.exim.gov/news/chairman-jovanovic-signs-letter-support-for-niocorps-elk-creek-mine-tours-innovative-project
        quote: The Export-Import Bank of the United States’ letter of support marks an important step towards making the Elk Creek Critical Minerals Project a reality
        source_file: exim-niocorp-letter.txt
        publisher: Export-Import Bank of the United States
      - body: Export-Import Bank of the United States
        instrument: other
        stage_as_printed: target ... of providing debt financing equivalent to approximately 65% of the Project’s upfront CAPEX requirements
        date: "2026-10-15"
        url: https://www.niocorp.com/exim-reiterates-target-to-finance-approximately-65-of-elk-creek-project-upfront-capex/
        quote: EXIM retains our target outlined in the Preliminary Project Letter of providing debt financing equivalent to approximately 65% of the Project’s upfront CAPEX requirements
        source_file: niocorp-exim-65pct.txt
        publisher: NioCorp Developments Ltd.
  - id: kabanga-nickel
    name: Kabanga Nickel Project
    company: Lifezone Metals Limited
    country_iso3: TZA
    place: northwestern Tanzania
    materials:
      - nickel
      - copper
      - cobalt
    kind: mine
    kind_as_printed: mechanized underground mine, mill, concentrator
    status: planned
    status_fact:
      as_printed: on track for a Final Investment Decision (FID) in 2026
      date: "2025-12-11"
      url: https://ir.lifezonemetals.com/news/press-releases/news-details/2025/Lifezone-Metals-Advances-Kabanga-Nickel-Project-Toward-2026-Final-Investment-Decision/default.aspx
      quote: which remains on track for a Final Investment Decision (FID) in 2026
      source_file: lifezone-fid-2025.txt
      publisher: Lifezone Metals Limited
    capex:
      amount: 942000000
      currency: USD
      what_it_covers: Pre-production capital costs, including 9.7% contingency (Feasibility Study, initial development phase)
      date: "2025-07-18"
      url: https://ir.lifezonemetals.com/news/press-releases/news-details/2025/Lifezone-Metals-Files-the-Feasibility-Study-Technical-Report-Summary-for-the-Kabanga-Nickel-Project-in-Tanzania/default.aspx
      quote: Pre-production capital costs of $942 million, including 9.7% contingency.
      source_file: lifezone-fs-2025.txt
      publisher: Lifezone Metals Limited
    backing:
      - body: U.S. International Development Finance Corporation (DFC)
        instrument: letter_of_interest
        stage_as_printed: Letter of Interest
        date: "2024-09-23"
        url: https://ir.lifezonemetals.com/news/press-releases/news-details/2024/Lifezone-Metals-Announces-Initiation-of-Project-Financing-Process-for-the-Kabanga-Nickel-Project-in-Tanzania/default.aspx
        quote: has received a Letter of Interest from the U.S. International Development Finance Corporation (DFC) that expressed DFC’s interest in considering the Project for loans
        source_file: lifezone-dfc-loi-2024.txt
        publisher: Lifezone Metals Limited
  - id: us-smelter-clarksville
    name: U.S. Smelter
    company: Korea Zinc
    country_iso3: USA
    place: Clarksville, Tennessee
    materials:
      - copper
      - antimony
      - gallium
      - germanium
    kind: processing
    kind_as_printed: large-scale smelter
    status: planned
    status_fact:
      as_printed: Full-scale construction will start in 2027
      date: "2025-12-15"
      url: https://www.koreazinc.co.kr/en/korea-zinc-partners-with-the-u-s-department-of-war-and-u-s-department-of-commerce-to-build-a-state-of-the-art-critical-minerals-smelter-in-the-united-states-with-6-6-billion-of-capital-expenditures/
      quote: Full-scale construction will start in 2027, with completion planned for 2029
      source_file: koreazinc-us-smelter.txt
      publisher: Korea Zinc
    capex:
      amount: 6600000000
      currency: USD
      what_it_covers: capital expenditures; total planned investment of $7.4 billion including working capital and financing costs
      date: "2025-12-15"
      url: https://www.koreazinc.co.kr/en/korea-zinc-partners-with-the-u-s-department-of-war-and-u-s-department-of-commerce-to-build-a-state-of-the-art-critical-minerals-smelter-in-the-united-states-with-6-6-billion-of-capital-expenditures/
      quote: is expected to have $6.6 billion in capital expenditures, with a total planned investment of $7.4 billion including working capital and financing costs
      source_file: koreazinc-us-smelter.txt
      publisher: Korea Zinc
    backing:
      - body: U.S. Department of War
        instrument: other
        stage_as_printed: conditional investment
        amount: 1400000000
        currency: USD
        date: "2025-12-15"
        url: https://www.koreazinc.co.kr/en/korea-zinc-partners-with-the-u-s-department-of-war-and-u-s-department-of-commerce-to-build-a-state-of-the-art-critical-minerals-smelter-in-the-united-states-with-6-6-billion-of-capital-expenditures/
        quote: The Department of War’s conditional investment of $1.4 billion to build the first U.S.-based zinc smelter and critical minerals processing facility
        source_file: koreazinc-us-smelter.txt
        publisher: Korea Zinc
      - body: U.S. Department of War together with investors
        instrument: other
        stage_as_printed: arranged by the U.S. Department of War together with investors
        amount: 2150000000
        currency: USD
        date: "2025-12-15"
        url: https://www.koreazinc.co.kr/en/korea-zinc-partners-with-the-u-s-department-of-war-and-u-s-department-of-commerce-to-build-a-state-of-the-art-critical-minerals-smelter-in-the-united-states-with-6-6-billion-of-capital-expenditures/
        quote: Approximately $2.15 billion, arranged by the U.S. Department of War together with investors, will be invested in the smelter construction.
        source_file: koreazinc-us-smelter.txt
        publisher: Korea Zinc
      - body: U.S. Department of Commerce (CHIPS Act)
        instrument: grant
        stage_as_printed: will provide $210 million in award funding
        amount: 210000000
        currency: USD
        date: "2025-12-15"
        url: https://www.koreazinc.co.kr/en/korea-zinc-partners-with-the-u-s-department-of-war-and-u-s-department-of-commerce-to-build-a-state-of-the-art-critical-minerals-smelter-in-the-united-states-with-6-6-billion-of-capital-expenditures/
        quote: The U.S. Department of Commerce will provide $210 million in award funding under the CHIPS Act for U.S. equipment procurement and other purposes.
        source_file: koreazinc-us-smelter.txt
        publisher: Korea Zinc
  - id: arctic-upper-kobuk
    name: Arctic Project
    company: Ambler Metals LLC
    country_iso3: USA
    place: northwestern Alaska
    materials:
      - copper
    kind: mine
    kind_as_printed: open-pit
    status: planned
    status_fact:
      as_printed: targeting a Record of Decision in September 2028
      date: "2026-10-02"
      url: https://trilogymetals.com/news-and-media/news/trilogy-metals-reports-third-quarter-fiscal-2026-financial-results/
      quote: The schedule sets an estimated 29-month integrated review timetable targeting a Record of Decision in September 2028
      source_file: trilogy-q3-fy2026.txt
      publisher: Trilogy Metals Inc.
    capex:
      amount: 1176800000
      currency: USD
      what_it_covers: Initial capital expenditure (2023 Arctic feasibility study); sustaining capital and closure are separate figures
      date: "2023-02-14"
      url: https://trilogymetals.com/news-and-media/news/trilogy-metals-announces-updated-feasibility-study-results-for-the-arctic-project/
      quote: Initial capital expenditure is $1,176.8 million and sustaining capital is $114.4 million
      source_file: trilogy-arctic-fs-2023.txt
      publisher: Trilogy Metals Inc.
    backing:
      - body: U.S. Department of War
        instrument: equity
        stage_as_printed: Closing
        amount: 35600000
        currency: USD
        date: "2026-10-02"
        url: https://trilogymetals.com/news-and-media/news/trilogy-metals-reports-third-quarter-fiscal-2026-financial-results/
        quote: Closing of the DOW $35.6 million strategic equity investment subsequent to quarter end on September 11, 2026.
        source_file: trilogy-q3-fy2026.txt
        publisher: Trilogy Metals Inc.
        note: the statement dates the event itself to 2026-09-11
  - id: mactung
    name: Mactung
    company: Fireweed Metals Corp.
    country_iso3: CAN
    place: Macmillan Pass, Yukon Territory
    materials:
      - tungsten
    kind: mine
    kind_as_printed: Mactung tungsten project
    status: planned
    status_fact:
      as_printed: commencing a Feasibility Study
      date: "2025-11-24"
      url: https://fireweedmetals.com/mactung-project-update/
      quote: Fireweed anticipates that the Feasibility Study will run throughout 2026 and is targeting a 2027 release.
      source_file: fireweed-mactung-update.txt
      publisher: Fireweed Metals Corp.
    backing:
      - body: U.S. Department of Defense (Defense Production Act Title III)
        instrument: grant
        stage_as_printed: awarded
        amount: 15800000
        currency: USD
        date: "2024-12-13"
        url: https://fireweedmetals.com/fireweed-metals-corp-awarded-up-to-c35-4-m-in-joint-us-canadian-government-funding-to-advance-mactung-and-essential-infrastructure-to-unlock-the-critical-minerals-district-at-macmillan-pass-yukon-t/
        quote: Fireweed has been awarded US$15.8M (~C$22.5 M) from the U.S. Department of Defense under Title III of the Defense Production Act of 1950
        source_file: fireweed-dpa-award.txt
        publisher: Fireweed Metals Corp.
  - id: electra-cobalt-refinery
    name: cobalt sulfate refinery
    company: Electra Battery Materials Corporation
    country_iso3: CAN
    place: Temiskaming Shores
    materials:
      - cobalt
    kind: processing
    kind_as_printed: cobalt sulfate refinery
    status: planned
    status_fact:
      as_printed: early works program ... to prepare for the restart of full-scale construction
      date: "2025-06-19"
      url: https://electrabmc.com/news-releases/news/electra-commences-early-works-to-support-restart-of-north-americas-only-cobalt-refinery
      quote: The early works program encompasses targeted site-level activities designed to prepare for the restart of full-scale construction.
      source_file: electra-early-works.txt
      publisher: Electra Battery Materials Corporation
    capex:
      amount: 250000000
      currency: USD
      what_it_covers: refinery project (release states all amounts in US dollars unless otherwise stated)
      date: "2024-08-19"
      url: https://www.electrabmc.com/news-releases/news/electra-awarded-20-million-from-us-department-of-defense-under-the-defense-production-act
      quote: The $250 million refinery project is located north of Toronto, in Temiskaming Shores
      source_file: electra-dod-award.txt
      publisher: Electra Battery Materials Corporation
    backing:
      - body: U.S. Department of Defense (Defense Production Act Title III)
        instrument: grant
        stage_as_printed: awarded
        amount: 20000000
        currency: USD
        date: "2024-08-19"
        url: https://www.electrabmc.com/news-releases/news/electra-awarded-20-million-from-us-department-of-defense-under-the-defense-production-act
        quote: it has been awarded $20 million by the U.S. Department of Defense
        source_file: electra-dod-award.txt
        publisher: Electra Battery Materials Corporation
  - id: vulcan-lionheart
    name: Zero Carbon Lithium (Phase One Lionheart Project)
    company: Vulcan Energie Ressourcen GmbH
    country_iso3: DEU
    place: Upper Rhine Valley
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: extraction project (Commission annex); integrated lithium and renewable energy project (company)
    status: construction
    status_fact:
      as_printed: Final Investment Decision in December 2025, when construction activities officially commenced
      date: "2026-05-27"
      url: https://www.v-er.eu/news-media/vulcan-reaches-financial-close-for-phase-one-lionheart-financing-package
      quote: The achievement follows the successful completion of the project's financing package and Final Investment Decision in December 2025, when construction activities officially commenced.
      source_file: eu-vulcan-financial-close.txt
      publisher: Vulcan Energy
    links:
      - publisher: European Investment Bank
        url: "https://www.eib.org/en/press/all/2025-486-vulcan-energy-secures-eur250-million-eib-financing-for-landmark-lithium-project-in-germany"
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 47)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: Zero Carbon Lithium is an ongoing extraction project in Germany. The project promoted by Vulcan Energie Ressourcen GmbH
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: Raw Materials Fund (managed by KfW, under the Germany Fund)
        instrument: equity
        stage_as_printed: is investing up to
        amount: 150000000
        currency: EUR
        date: "2026-09-09"
        url: https://www.kfw.de/About-KfW/Newsroom/Latest-News/Deutschlandfonds.html
        quote: Raw Materials Fund, under the umbrella of the Germany Fund, is investing up to EUR 150 million in the implementation of the ambitious Lionheart project
        source_file: eu-kfw-deutschlandfonds.txt
        publisher: KfW
        note: the KfW page prints 'News of 9 September 2026' above this item
  - id: talga-vittangi-anode
    name: Talga Natural Graphite ONE (Vittangi Anode Project)
    company: Talga AB
    country_iso3: SWE
    place: northern Sweden
    materials:
      - graphite
    kind: mine_and_processing
    kind_as_printed: extraction project (Commission annex); vertically integrated operation (company)
    status: planned
    status_fact:
      as_printed: FINANCIAL CLOSE DATE 31 January, 2028; ENTRY INTO OPERATION DATE 31 December, 2030 (Innovation Fund fiche for the anode refinery part)
      date: "2026-10-02"
      url: https://ec.europa.eu/assets/cinea/project_fiches/innovation_fund/101191036.pdf
      quote: FINANCIAL CLOSE DATE 31 January, 2028 ENTRY INTO OPERATION DATE 31 December, 2030
      source_file: eu-cinea-talnodeone.txt
      publisher: European Climate, Infrastructure and Environment Executive Agency (CINEA)
    capex:
      amount: 560000000
      currency: EUR
      what_it_covers: capital costs for the construction of the vertically integrated operation (excluding €39m contingency)
      date: "2024-04-15"
      url: https://talgagroup.eu-central-1.linodeobjects.com/app/uploads/2024/04/15091050/20240415FeedCompleted_ASX.pdf
      quote: capital costs for the construction of the vertically integrated operation are now estimated at €560 million (excluding €39m contingency)
      source_file: eu-talga-feed-2024.txt
      publisher: Talga Group Ltd
    links:
      - publisher: European Investment Bank
        url: "https://www.eib.org/en/projects/pipelines/all/20220643"
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 44)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: Talga Natural Graphite ONE is an ongoing extraction project in Sweden. The project promoted by Talga AB
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: European Investment Bank
        instrument: loan
        stage_as_printed: "board has approved (EIB project page: Approved | 15/06/2023; amount 'not disclosed' there)"
        amount: 150000000
        currency: EUR
        date: "2023-06-20"
        url: https://talgagroup.eu-central-1.linodeobjects.com/app/uploads/2023/06/20092357/20230620EIBApproval_ASX.pdf
        quote: board has approved €150 million senior debt funding
        source_file: eu-talga-eib-approval-2023.txt
        publisher: Talga Group Ltd
      - body: EU Innovation Fund
        instrument: grant
        stage_as_printed: AMOUNT OF INNOVATION FUND GRANT (project TalnodeONE, starting date 01 April, 2025)
        amount: 70000000
        currency: EUR
        date: "2026-10-02"
        url: https://ec.europa.eu/assets/cinea/project_fiches/innovation_fund/101191036.pdf
        quote: AMOUNT OF INNOVATION FUND GRANT EUR 70,000,000
        source_file: eu-cinea-talnodeone.txt
        publisher: European Climate, Infrastructure and Environment Executive Agency (CINEA)
        note: fiche 'Updated on 02 October 2026'
  - id: caremag-lacq
    name: CAREMAG
    company: Caremag SAS
    country_iso3: FRA
    place: Lacq, in the south of France
    materials:
      - rare-earths
    kind: processing
    kind_as_printed: processing project (Commission annex); rare earth recycling and refining industrial facility (company)
    status: construction
    status_fact:
      as_printed: ont posé la première pierre de l’usine Caremag
      date: "2025-03-31"
      url: https://www.tresor.economie.gouv.fr/Articles/2025/03/31/breves-economiques-japon-coree-du-sud-periode-du-1er-au-31-mars-2025
      quote: les ministres Laurent Saint-Martin et Agnès Pannier-Runacher ont posé la première pierre de l’usine Caremag
      quote_en: the ministers Laurent Saint-Martin and Agnès Pannier-Runacher laid the foundation stone of the Caremag plant
      source_file: eu-tresor-breves-2025-03.txt
      publisher: Direction générale du Trésor
    capex:
      amount: 216000000
      currency: EUR
      what_it_covers: financing secured to build the rare earth recycling and refining industrial facility in Lacq (printed as financing, not as a cost estimate)
      date: "2025-03-17"
      url: https://www.carester.fr/wp-content/uploads/2025/03/press-release-ENG-without-embargo.pdf
      quote: has secured €216 million to build its cutting-edge rare earth recycling and refining industrial facility in Lacq
      source_file: eu-carester-pr-2025.txt
      publisher: Carester
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 7)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: CAREMAG is an ongoing processing project in France. The project promoted by Caremag SAS
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: French government
        instrument: other
        stage_as_printed: subsidies and repayable advances granted under the France Relance and France 2030 project calls, as well as a Green Industry tax credit
        amount: 106000000
        currency: EUR
        date: "2025-03-17"
        url: https://www.carester.fr/wp-content/uploads/2025/03/press-release-ENG-without-embargo.pdf
        quote: this project is backed by €110 million from Japanese investors and €106 million from the French government
        source_file: eu-carester-pr-2025.txt
        publisher: Carester
  - id: emili-beauvoir
    name: EMILI
    company: IMERYS Ceramics France and IMERYS Lithium France
    country_iso3: FRA
    place: Allier
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: integrated extraction and processing project
    status: planned
    status_fact:
      as_printed: finalisation de l'étude de faisabilité définitive, jalon majeur prévu début 2027
      date: "2026-02-11"
      url: https://presse.economie.gouv.fr/?p=170651
      quote: vise à accompagner le projet EMILI dans la finalisation de l'étude de faisabilité définitive, jalon majeur prévu début 2027
      quote_en: aims to support the EMILI project in completing the definitive feasibility study, a major milestone planned for early 2027
      source_file: eu-minefi-emili-2026.txt
      publisher: Ministère de l'Économie, des Finances et de la Souveraineté industrielle, énergétique et numérique
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 12)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: EMILI is an ongoing integrated extraction and processing project in France. The project promoted by IMERYS Ceramics France and IMERYS Lithium France
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: État français (via Banque des Territoires, France 2030)
        instrument: equity
        stage_as_printed: prise de participation de l'État au capital du projet (annoncée)
        amount: 50000000
        currency: EUR
        date: "2026-02-11"
        url: https://presse.economie.gouv.fr/?p=170651
        quote: L'investissement de l'État d'un montant de 50 millions d'euros
        quote_en: The State's investment of 50 million euros
        source_file: eu-minefi-emili-2026.txt
        publisher: Ministère de l'Économie, des Finances et de la Souveraineté industrielle, énergétique et numérique
      - body: EU Innovation Fund
        instrument: grant
        stage_as_printed: table column 'Innovation Fund grant (EUR million)'; project start 01/09/2026; covers the lithium hydroxide refinery plant
        amount: 116000000
        currency: EUR
        date: "2026-11-01"
        url: https://ec.europa.eu/assets/cinea/country_factsheets/innovation_fund/INNOVFUND_France.pdf
        quote: 01/09/2026 Imerys Holding | Imerys 2,332,289 116.0
        source_file: eu-cinea-if-france.txt
        publisher: European Climate, Infrastructure and Environment Executive Agency (CINEA)
        note: "factsheet prints 'State of play: November 2026' (no day)"
        amount_check: table cell in the column 'Innovation Fund grant (EUR million)'
  - id: cinovec-lithium
    name: Cínovec lithium project
    company: Geomet s.r.o.
    country_iso3: CZE
    place: Cínovec and Prunéřov, Ústí nad Labem Region
    materials:
      - lithium
    kind: mine_and_processing
    kind_as_printed: integrated extraction and processing project
    status: planned
    status_fact:
      as_printed: definitive feasibility study complete; shareholders will decide on the implementation and financing of the next stage
      date: "2025-12-19"
      url: https://www.cez.cz/en/media/press-releases/finalni-studie-proveditelnosti-je-hotova.-potvrdila-ze-projekt-tezby-a-zpracovani-lithia-je-realizovatelny.-do-konce-roku-bude-podana-eia-230527
      quote: Geomet will now present the completed study to its shareholders, who will decide on the implementation and financing of the project’s next stage.
      source_file: eu-cez-cinovec-dfs.txt
      publisher: ČEZ
    capex:
      amount: 42000000000
      currency: CZK
      what_it_covers: total investment of the lithium park (printed as 'more than 42 billion CZK')
      date: "2025-12-19"
      url: https://www.cez.cz/en/media/press-releases/finalni-studie-proveditelnosti-je-hotova.-potvrdila-ze-projekt-tezby-a-zpracovani-lithia-je-realizovatelny.-do-konce-roku-bude-podana-eia-230527
      quote: The total investment of the lithium park is estimated at more than 42 billion CZK.
      source_file: eu-cez-cinovec-dfs.txt
      publisher: ČEZ
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 9)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: Cínovec lithium project is an ongoing integrated extraction and processing project in Czechia. The project promoted by Geomet s.r.o.
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: Fair Transition Fund
        instrument: grant
        stage_as_printed: subsidy received this April
        amount: 800000000
        currency: CZK
        date: "2025-12-19"
        url: https://www.cez.cz/en/media/press-releases/finalni-studie-proveditelnosti-je-hotova.-potvrdila-ze-projekt-tezby-a-zpracovani-lithia-je-realizovatelny.-do-konce-roku-bude-podana-eia-230527
        quote: the CZK 800 million subsidy from the Fair Transition Fund that Geomet received this April
        source_file: eu-cez-cinovec-dfs.txt
        publisher: ČEZ
      - body: Czech government (Strategic Investments for a Climate Neutral Economy programme)
        instrument: grant
        stage_as_printed: approved a subsidy of up to; to be drawn between 2029 and 2031
        amount: 350000000
        currency: EUR
        date: "2025-12-19"
        url: https://www.cez.cz/en/media/press-releases/finalni-studie-proveditelnosti-je-hotova.-potvrdila-ze-projekt-tezby-a-zpracovani-lithia-je-realizovatelny.-do-konce-roku-bude-podana-eia-230527
        quote: Czech government also approved a subsidy of up to 350 million euros (CZK 8.8 billion) from the Strategic Investments for a Climate Neutral Economy programme
        source_file: eu-cez-cinovec-dfs.txt
        publisher: ČEZ
  - id: barroso-lithium
    name: Barroso Lithium Project
    company: Savannah Lithium, Unipessoal, Lda.
    country_iso3: PRT
    materials:
      - lithium
    kind: mine
    kind_as_printed: extraction project
    status: planned
    status_fact:
      as_printed: Production targeted for end 2028
      date: "2026-10-01"
      url: https://savannahresources.com/wp-content/uploads/2026/10/Savannah_IMCPresentation_Oct2026.pdf
      quote: Production targeted for end 2028.
      source_file: eu-savannah-pres-2026-10.txt
      publisher: Savannah Resources Plc
      note: presentation prints only 'OCTOBER 2026'
    capex:
      amount: 418000000
      currency: USD
      what_it_covers: Capex total including pre-strip & contingency (Phase 1 DFS, July 2026); US$323m net of the State Grant
      date: "2026-10-01"
      url: https://savannahresources.com/wp-content/uploads/2026/10/Savannah_IMCPresentation_Oct2026.pdf
      quote: "Capex: Total of US$418m including pre-strip & contingency US$323m required net of US$95m contribution from State Grant"
      source_file: eu-savannah-pres-2026-10.txt
      publisher: Savannah Resources Plc
      note: presentation prints only 'OCTOBER 2026'
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 5)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: Barroso Lithium Project is an ongoing extraction project in Portugal. The project promoted by Savannah Lithium, Unipessoal, Lda.
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: Portuguese State
        instrument: grant
        stage_as_printed: Awarded a non-reimbursable grant of up to
        amount: 110000000
        currency: EUR
        date: "2026-04-15"
        url: https://savannahresources.com/wp-content/uploads/2026/04/Financial-Results-for-the-Year-Ended-31-Dec-2025.pdf
        quote: Awarded a non-reimbursable grant of up to EUR110m by the Portuguese State
        source_file: eu-savannah-fy2025.txt
        publisher: Savannah Resources Plc
      - body: German Government
        instrument: loan_guarantee
        stage_as_printed: eligible for a loan guarantee
        amount: 270000000
        currency: USD
        date: "2026-04-15"
        url: https://savannahresources.com/wp-content/uploads/2026/04/Financial-Results-for-the-Year-Ended-31-Dec-2025.pdf
        quote: eligible for a loan guarantee from the German Government for up to USD270m
        source_file: eu-savannah-fy2025.txt
        publisher: Savannah Resources Plc
  - id: guben-lithium-converter
    name: Lithium Hydroxide Converter Guben
    company: Rock Tech Guben GmbH
    country_iso3: DEU
    place: Guben, Brandenburg
    materials:
      - lithium
    kind: processing
    kind_as_printed: processing project
    status: planned
    status_fact:
      as_printed: fully permitted; CapEx estimate updated
      date: "2025-10-23"
      url: https://rocktechlithium.com/wp-content/uploads/2025/10/Rock-Tech-News-Release-re-CapEx-Update-MoU-SCT-Arcore-Oct-22-2025.pdf
      quote: another significant milestone in the development of the fully permitted Guben Lithium Converter on the German-Polish border
      source_file: eu-rocktech-capex-2025-10.txt
      publisher: Rock Tech Lithium Inc.
    capex:
      amount: 680000000
      currency: EUR
      what_it_covers: CapEx for commissioning the facility (management estimate)
      date: "2025-10-23"
      url: https://rocktechlithium.com/wp-content/uploads/2025/10/Rock-Tech-News-Release-re-CapEx-Update-MoU-SCT-Arcore-Oct-22-2025.pdf
      quote: management now estimates the CapEx for commissioning the facility at approximately €680 million, compared to the prior estimate of €730 million
      source_file: eu-rocktech-capex-2025-10.txt
      publisher: Rock Tech Lithium Inc.
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project (Commission Decision C(2025) 1904, annex item 24)
        date: "2025-03-25"
        url: https://single-market-economy.ec.europa.eu/document/download/e9c90c91-7492-4047-bc51-d0c9d5e89a2f_en?filename=C_2025_1904_1_EN_annexe_acte_autonome_part1_v2.pdf
        quote: Lithium Hydroxide Converter Guben is an ongoing processing project in Germany. The project promoted by Rock Tech Guben GmbH
        source_file: eu-ec-annex-2025-eu.txt
        publisher: European Commission
      - body: Brandenburg’s Ministry for Economic Affairs, Labour and Energy
        instrument: grant
        stage_as_printed: has issued an LOI committing up to
        amount: 90000000
        currency: EUR
        date: "2024-06-27"
        url: https://rocktechlithium.com/en/rock-tech-to-receive-up-to-100-million-eur-in-direct-grants-for-its-german-lithium-refinery-funding-to-be-provided-by-the-state-of-brandenburg-and-the-german-railway-authority-further-applications-f/
        quote: Brandenburg’s Ministry for Economic Affairs, Labour and Energy has issued an LOI committing up to 90 million EUR in grants
        source_file: eu-rocktech-grants.txt
        publisher: Rock Tech Lithium Inc.
      - body: German Railway Authority
        instrument: grant
        stage_as_printed: application for federal funding has been confirmed
        amount: 10000000
        currency: EUR
        date: "2024-12-31"
        url: https://rocktechlithium.com/wp-content/uploads/2025/05/20241231_Rock-Tech-MDA-Q4-2024-FINAL-for-SEDAR.pdf
        quote: application for federal funding from the German Railway Authority has been confirmed and will provide a contribution of another 10 million Euros in grants
        source_file: eu-rocktech-mda-q4-2024.txt
        publisher: Rock Tech Lithium Inc.
        note: period end of the 2024 MD&A that prints this
    later:
      - date: "2024-12-31"
        url: https://rocktechlithium.com/wp-content/uploads/2025/05/20241231_Rock-Tech-MDA-Q4-2024-FINAL-for-SEDAR.pdf
        quote: The LOI expired on December 31, 2024.
        source_file: eu-rocktech-mda-q4-2024.txt
        publisher: Rock Tech Lithium Inc.
        what: "Brandenburg’s Ministry for Economic Affairs, Labour and Energy: The LOI expired on December 31, 2024."
        note: period end of the 2024 MD&A that prints this
  - id: tungsten-west-hemerdon
    name: Tungsten West (Hemerdon tungsten and tin mine)
    company: Tungsten West PLC
    country_iso3: GBR
    place: Devon
    materials:
      - tungsten
    kind: mine
    kind_as_printed: extraction project
    status: construction
    status_fact:
      as_printed: Construction is underway
      date: "2026-11-13"
      url: https://www.tungstenwest.com/project/hemerdon-mine
      quote: The permits are in place. Construction is underway.
      source_file: eu-tungstenwest-hemerdon.txt
      publisher: Tungsten West
      note: page is undated; date is the day it was fetched
    backing:
      - body: European Commission
        instrument: strategic_project_status
        stage_as_printed: recognised as Strategic Project in a third country (Commission Decision C(2025) 3491, annex item 12)
        date: "2025-06-04"
        url: https://single-market-economy.ec.europa.eu/document/download/60c576a5-435e-43e6-83de-c81f3652259b_en?filename=C_2025_3491_1_EN_annexe_acte_autonome_part1_v3.pdf
        quote: Tungsten West is an ongoing extraction project in the United Kingdom. The project promoted by Tungsten West PLC
        source_file: eu-ec-annex-2025-noneu.txt
        publisher: European Commission
      - body: National Wealth Fund (United Kingdom)
        instrument: equity
        stage_as_printed: has announced an investment
        amount: 36000000
        currency: GBP
        date: "2026-08-25"
        url: https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-tungsten-west-to-unlock-critical-uk-tungsten-supply/
        quote: The financing consists of a £36 million equity investment alongside up to £35 million of lending
        source_file: eu-nwf-tungsten-west-2026.txt
        publisher: National Wealth Fund
      - body: National Wealth Fund (United Kingdom)
        instrument: loan
        stage_as_printed: has announced an investment (up to £35 million of lending)
        amount: 35000000
        currency: GBP
        date: "2026-08-25"
        url: https://www.nationalwealthfund.org.uk/news-and-publications/news/national-wealth-fund-backs-tungsten-west-to-unlock-critical-uk-tungsten-supply/
        quote: The financing consists of a £36 million equity investment alongside up to £35 million of lending
        source_file: eu-nwf-tungsten-west-2026.txt
        publisher: National Wealth Fund