Critical minerals mining in US poised to benefit from $250bn Bank of America initiative
Critical minerals mining in the US is poised to benefit from a new $250-billion finance initiative announced by Bank of America on August 12.
Bank of America announced an 18-month critical infrastructure finance initiative in honor of America’s 250th anniversary.
The initiative aims to drive transformative infrastructure investment across the US, with the investments targeted for the development of digital, energy, power and core infrastructure that enhances national competitiveness.
The bank says surging demand for computing power, energy, manufacturing capacity, modern transportation systems and diversified supply chains is propelling a new wave of infrastructure investment across the US, to which it desires to help clients through the bank’s global capital markets platform, advisory expertise and strong balance sheet support.
Primary market lending, investing, and capital markets, banking and advisory solutions will span three broad infrastructure categories: digital infrastructure such as data centres and computing infrastructure, including hardware and chips; energy and power infrastructure such as conventional and renewable power generation and energy storage; and core infrastructure such as transportation, energy transmission, grid optimisation, water systems and critical minerals and mining.
“Meeting America’s growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors. Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets.
“By bringing together capital providers, developers, corporations and investors, we are focused on helping accelerate investment in infrastructure that drives economic growth and creates lasting value for communities,” says Bank of America infrastructure and sustainable finance head Karen Fang.