As global demand for critical minerals surges to support the energy transition, the financing landscape remains a significant bottleneck. The Milken Institute’s latest report, Innovative Financing for Resilient Critical Mineral Supply Chains published in September 2025, examines why traditional capital markets have struggled to meet the sector’s needs—from lengthy development timelines and volatile commodity prices to the “valley of death” that strands promising innovations between concept and commercial viability. Clareo’s Peter Bryant contributed strategic expertise to this comprehensive analysis, which draws on insights from over 100 stakeholder interviews across the mining, finance, and policy sectors.
To help shift the negative ESG narrative on investing in mining, authors Ashley Campany and Kanika Singh propose three innovative frameworks designed to unlock greater private sector investment: a syndicated investment model for mining innovations, a revolving loan fund to engage host communities and secure social license to operate, and a blended finance approach leveraging public capital to de-risk early-stage projects. These solutions can effectively avoid critical market failures and promote the building of resilient, sustainable mineral supply chains in the increasingly complex geopolitical landscape.
