U.S. Export-Import Bank to Invest $100 Billion in Critical Minerals for Energy Leadership - FT
U.S. Export-Import Bank Investment: The U.S. Export-Import Bank plans to invest $100 billion to enhance U.S. supply chains for critical minerals, nuclear energy, and liquefied natural gas, with initial projects in Egypt, Pakistan, and Europe.
Focus on Energy Security: The bank aims to reduce reliance on unfair critical mineral supply chains and will support LNG exports, marking a shift from its previous emphasis on renewable energy projects.
Recent Transactions: In the past year, the Ex-Im Bank authorized $8.7 billion in new transactions, including a $4 billion credit insurance guarantee for natural gas to Egypt and a $1.25 billion loan for a copper and gold mine in Pakistan.
Nuclear Energy Initiatives: Under new leadership, the bank is prioritizing nuclear energy and is in discussions regarding several projects in southeast Europe, involving U.S. companies like Westinghouse.
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- Earnings Release Schedule: Barrick Mining Corporation will announce its Q1 2026 results on May 11, 2026, at 6:00 AM ET, providing investors with insights into its financial performance and market conditions.
- Live Webcast: The management team will host a live webcast and presentation at 11:00 AM ET on the same day, followed by a Q&A session with analysts, enhancing interaction and transparency with investors.
- Pre-Event Materials: Presentation materials will be available on Barrick's website prior to the event, ensuring that investors can access key information in advance to better understand the earnings data.
- Global Operations Overview: Barrick operates in 17 countries across five continents with a portfolio of world-class gold and copper assets, being the largest gold producer in the U.S. and committed to creating long-term value for all stakeholders.
- Development Slowdown: Barrick Mining Corporation has decided to slow down development activities on the Reko Diq project and extend its comprehensive review until mid-2027 to assess the evolving security landscape and capital requirements, thereby ensuring the long-term value of the asset.
- Capital Budget Adjustments: Due to escalating security risks, Barrick anticipates significant increases in the capital budget and timeline for the Reko Diq project, with Phase 1 budgeted between $5.6 billion and $6.0 billion and Phase 2 between $3.3 billion and $3.6 billion, with first production targeted for the end of 2028.
- Community Investment Commitment: Despite the slowdown in development, Barrick remains committed to investing in local community and social programs, demonstrating the company's emphasis on social responsibility and support for the local economy.
- Future Market Update: Barrick plans to provide further updates to the market following the conclusion of the extended review in mid-2027, indicating the company's ongoing focus on the project and transparency to investors.
- Strategic Shift: Barrick Mining Corp aims to reduce investments in higher-risk regions while focusing on capital allocation towards tier-one assets, enhancing overall investment safety and potential returns.
- Acquisition Intent: The company has expressed openness to major acquisitions, intending to bolster its market competitiveness and resource reserves through the acquisition of quality assets, further solidifying its industry position.
- North American Asset Spin-off: Barrick plans an initial public offering of its North American operations as part of its restructuring strategy, which is expected to release more capital for core business development and enhance shareholder value.
- Commitment to Cash Flow Growth: Chairman John Thornton emphasized a disciplined approach to capital allocation, focusing on growing free cash flow per share to ensure the company's financial health and sustainable growth in the future.
- Market Sentiment Rebound: Global stock markets surged on Wednesday as the US and Iran agreed to a two-week ceasefire, with the S&P 500 rising 2.51%, the Dow Jones up 2.85%, and the Nasdaq 100 increasing by 2.90%, reflecting a positive market response to easing geopolitical tensions.
- Crude Oil Price Plunge: The ceasefire news led to a more than 15% drop in crude oil prices to a 1.5-week low, alleviating inflation concerns and sparking a rally in global government bond markets, with the German 10-year Bund yield falling to a 3-week low, indicating a more optimistic outlook for the economy.
- Fed Policy Expectations: Although the market discounts only a 1% chance of a 25 bp rate hike at the upcoming April 28-29 FOMC meeting, the minutes from the March FOMC indicated heightened concerns among participants regarding upside risks to inflation and downside risks to employment, suggesting a more cautious approach to future monetary policy.
- Strong Tech Stock Performance: Chipmakers and AI infrastructure stocks saw significant gains on Wednesday, with Intel rising over 11%, driving the Nasdaq 100's increase, highlighting the tech sector's crucial role in the market recovery and further boosting investor confidence in technology stocks.
- Meeting Schedule: Barrick Mining Corporation will hold its 2026 Annual Meeting of Shareholders on May 8, 2026, at 10:00 a.m. EDT in a virtual format, allowing global shareholders to participate via live webcast.
- Participation Method: Registered shareholders, non-registered shareholders, and their appointed proxyholders can engage in real-time participation, questioning, and voting through the online portal, enhancing shareholder engagement and interactivity.
- Information Disclosure Channels: The company has made its 2026 Information Circular and related materials available on SEDAR+, EDGAR, and its website, ensuring shareholders receive important information promptly and enhancing transparency.
- Company Background: Barrick Mining is a leading global mining company with a world-class portfolio of gold and copper assets, operating in 17 countries across five continents, committed to creating long-term value for all stakeholders through responsible mining and strong partnerships.
- Market Sentiment Rebounds: Global stock markets surged as the US and Iran agreed to a two-week ceasefire, with the S&P 500 rising 2.04%, the Dow Jones up 2.25%, and the Nasdaq 100 increasing by 2.52%, indicating a renewed investor confidence in risk assets.
- Crude Oil Price Plunge: The ceasefire news led to a more than 15% drop in crude oil prices to a 1.5-week low, alleviating inflation concerns and sparking a rally in global government bond markets, with the German 10-year Bund yield falling to a 3-week low, reflecting market expectations of a potential economic slowdown.
- US Treasury Yields Decline: The 10-year US Treasury yield fell to 4.228%, a 3-week low, as concerns over inflation eased, indicating increased demand for safe-haven assets, while also supporting the upcoming $39 billion auction of 10-year notes.
- Strong Performance in Tech Stocks: Amid the positive market sentiment, technology stocks performed strongly, with Amazon, Meta, and Alphabet all rising over 3%, showcasing sustained investor confidence in the tech sector, which may drive future investment inflows.











