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查看配图：JPMorgan unleashes $1.5T push for US critical mineralsJPMorgan Chase & Co. headquarters in New York. (Stock image by Katherine Welles.)
JPMorganChase (NYSE: JPM) has appointed Andrew Frame to lead critical minerals investment efforts under its $1.5-trillion (C$2.1 trillion) Security and Resiliency Initiative (SRI), placing him at the centre of a push to strengthen United States and allied supply chains for materials essential to manufacturing, energy and defence.
Frame will oversee the bank’s critical minerals strategy across extraction, refining and processing, identifying investment opportunities and addressing bottlenecks that threaten access to strategic resources. His mandate forms part of JPMorganChase’s 10-year initiative to facilitate financing and investment in industries considered vital to economic and national security.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing—all of which are essential for our national security,” JPMorganChase chairman and CEO Jamie Dimon said when the initiative was announced.
Frame’s appointment comes as Western governments and companies seek to diversify mineral supplies and reduce their exposure to concentrated overseas production and processing capacity. Securing reliable sources of these materials has become increasingly important for defence systems, electric vehicles, renewable energy infrastructure and advanced technologies.
Priorities
JPMorganChase’s SRI targets four broad sectors: supply chains and advanced manufacturing, defence and aerospace, energy independence and resilience, and frontier technologies.
The bank has identified 27 subcategories within those sectors, including critical minerals, nuclear energy, battery storage, semiconductors, robotics and advanced defence components.
Critical minerals, pharmaceutical precursors and robotics fall under the manufacturing category, while defence investments will target autonomous systems, drones, secure communications and aerospace technologies.
Energy financing will include nuclear power, battery storage, distributed energy and electrical grid resilience. The technology portfolio will cover artificial intelligence, cybersecurity, quantum computing and other emerging industries, including semiconductors and nanomaterials.
The financing commitment involves facilitating and financing transactions for clients, with a separate $10-billion allocation earmarked for potential equity and venture capital investments.
Support expansion
JPMorganChase plans to recruit additional bankers, investment professionals and industry specialists to support the initiative. It will also establish an external advisory council comprising public- and private-sector leaders to help shape its long-term strategy.
The bank’s existing relationships could provide a broad platform for deploying capital. It serves 34,000 mid-sized companies and more than 90% of Fortune 500 businesses, alongside established private equity and venture capital partners.
Its Commercial & Investment Bank has held a leading position in global investment banking for more than 15 years, with experience financing and advising companies in defence, aerospace, healthcare and energy.
The initiative has drawn on research into private companies, rare earth supply chains and emerging technologies. JPMorganChase’s recently established Center for Geopolitics will provide analysis of international developments, while its Asset & Wealth Management division will contribute investment expertise.
Beyond financing, the bank intends to advocate for policies that encourage research and development, streamline permitting and procurement and reduce regulatory barriers. It also plans to work with business and community partners to strengthen workforce training in industries facing shortages of skilled labour.
Implementation will depend partly on the ability of companies to advance projects through permitting, secure qualified workers and establish commercially viable operations. The initiative sets out financing ambitions rather than guaranteed spending or completed investments.
“America needs more speed and investment,” Dimon said. “It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need.”