The US administration is actively seeking partners, customers and funding for lithium exploration projects in Portugal. This interest was articulated by US Deputy Secretary for Economic Growth, Energy and Environment, Jose W. Fernandez, during a recent visit to Lisbon, where he engaged in discussions with government representatives and private sector companies.
Fernandez highlighted that US support for lithium exploration is motivated by rising tensions with China, which currently dominates the global lithium supply. At a press conference at the US embassy in Lisbon, he noted, “This situation is a cause for concern in Washington.” He emphasized that while China is the US’s third-largest trading partner, the trading practices differ significantly.
“Our strategy is not about decoupling from China but diversifying supply chains to mitigate risks,” Fernandez explained.
During his visit, Fernandez met with various companies, including Bondalti Lithium, Savannah Resources, Start Campus, Altice, Google, Equinix, and Ericsson. Although specific outcomes from these meetings remain undisclosed, Savannah Resources plans to commence lithium ore mining at the Barroso mine in Boticas by 2027.
Fernandez added, “We will maintain contact with these companies through the Minerals Security Partnership, established recently in New York, which aims to support exports via credit insurance and development banks. We are also building a network of private capital investors interested in investment opportunities.”
While he noted that the US cannot guarantee financing, he assured that they can facilitate partnerships and organize meetings for interested parties to explore potential opportunities in Portugal.
