Funds will be used to develop both TechMet’s existing assets and to continue to build its portfolio with strategic projects that scale production and refining of its target critical minerals, which include lithium, nickel, cobalt, and rare earths.

The QIA investment allows TechMet to meet its $300 million fundraising target, adding to a $50 million investment from S2G Ventures and an additional $50 million from the U.S. International Development Corp. (DFC). The latest DFC commitment takes its total investment in TechMet to $105 million, following an initial investment in 2020. Now valued at well over $1 billion, TechMet is one of the largest private The sun sets at the Windfall camp in Québec, Canada. (Photo: Osisko) investors in the critical minerals space.

Since inception, TechMet said it has invested more than $450 million in its existing portfolio of assets. Its mining assets include Brazilian Nickel, Cornish Lithium, Energy Source Minerals (lithium) and Trinity Metals (tin and tungsten).