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    TechMet’s additional $200M raise: portfolio and project signals for mine planners

    February 9, 2026|

    Reviewed by Tom Sullivan

    TechMet’s additional $200M raise: portfolio and project signals for mine planners

    First reported on MINING.com

    30 Second Briefing

    TechMet plans to raise up to $200 million in new funding on top of last year’s $300 million round, which included $180 million from the Qatar Investment Authority, to expand its critical minerals portfolio beyond existing stakes in Brazilian Nickel, US Vanadium and Rainbow Rare Earths. CEO Brian Menell, speaking at Mining Indaba 2026, flagged Zambia, Guinea and the Democratic Republic of Congo as priority jurisdictions, alongside the Dobra lithium deposit in Ukraine targeted via a joint US investment fund. The US International Development Finance Corp remains a major backer, with TechMet reportedly valued above $1 billion.

    Technical Brief

    • Portfolio currently spans 10 mining companies across multiple jurisdictions, enabling cross-commodity project risk diversification.
    • Existing holdings include Brazilian Nickel, US Vanadium (Arkansas) and Rainbow Rare Earths in South Africa.
    • Congo’s dominance in cobalt (>70% of global supply) and strong copper output frames TechMet’s focus on that jurisdiction.
    • Zambia is being targeted primarily for copper exposure, while Guinea is viewed as strategic for iron ore.
    • International Development Finance Corp is identified as one of TechMet’s largest institutional investors, de-risking early-stage capital.
    • Additional investors named include Mercuria, S2G Investments and Lansdowne Partners, indicating a mix of trading, agri-tech and fund capital.
    • Competitive positioning is explicitly framed as part of US–China rivalry over critical mineral supply chains in Africa.

    Our Take

    With TechMet already holding stakes in 10 mining companies across cobalt, copper and lithium, a further $200M raise at a valuation above $1 billion positions it as one of the more capitalised private critical-minerals investors in our mining database, which tends to be dominated by listed majors and OEM-backed JVs.

    The focus on Africa – including Congo, which supplies more than 70% of global cobalt – suggests TechMet’s capital could become an important alternative to Chinese-backed funding for early-stage projects there, potentially giving developers in Zambia and Guinea more optionality on offtake and governance terms.

    Qatar Investment Authority’s previous $180M contribution, alongside US-linked entities such as the International Development Finance Corp, indicates that TechMet’s portfolio in places like Brazil and Africa is likely to sit at the intersection of commercial returns and supply-chain security objectives for Western governments.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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