Department of State Launches Pax Silica Fund

The U.S. Department of State announced that it intends, working with Congress, to allocate $250 million in foreign assistance funding for a new Pax Silica Fund initiative to support critical minerals extraction, processing, critical infrastructure, and manufacturing assets that support secure and reliable semiconductor supply chains.

The fund is expected to help catalyze trusted capital from large sovereign wealth and private sources.

Using foreign assistance to attract private and allied co-investment, the fund will also create new commercial opportunities for U.S. and other trusted companies worldwide.