The US strengthened its critical mineral strategy this week as the International Development Finance Corporation joined an Orion Resource Partners-led consortium now sized at $1.8 billion. The White House also issued a two-year exemption from new EPA copper-smelting standards for Freeport-McMoRan’s Miami facility.
DFC said its commitment, matched by funds managed by Orion and by Abu Dhabi’s ADQ, lifts the Orion Critical Mineral Consortium to $1.8 billion with capacity for additional aligned capital, targeting near-term production of minerals for energy, semiconductors, and advanced technologies.
The proclamation cites the May 2024 EPA “Copper Rule” and extends all compliance deadlines for the identified stationary source by two years, reverting the facility to pre-rule obligations during that period after findings that the required control technology is not commercially available and that relief is in the national security interest.
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The US had only two operating primary copper smelters in 2024, Freeport-McMoRan’s Miami smelter in Arizona and Rio Tinto’s Kennecott smelter in Utah.
Under Clean Air Act, the president can give a specific facility a temporary two-year pass from new hazardous air pollution standards if the required control technology is not realistically available and a pause serves national security, with a report to Congress.
The proclamation uses this authority for Freeport-McMoRan’s Miami copper smelter in Arizona, so it will follow the pre-2024 rules during the two-year window while timelines are reassessed.
DFC framed the consortium as the largest initiative aimed at creating secure mineral supply chains for the US and allies, adding that projects will be in DFC-eligible markets to diversify away from adversarial control.
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