Mubadala part of US-led supply-chain investment fund

Abu Dhabi-based Mubadala Investment Co is reportedly to be part of a global consortium led by the US that will support energy and critical mineral supply chains.

Other members of the consortium include Japan’s SoftBank Group and Singapore’s Temasek Holdings, Bloomberg reported, quoting Jacob Helberg, undersecretary for economic affairs at the State Department.

The US intends to contribute $250 million to the investment consortium, which it will administer, he said.

The consortium’s priority investments will focus on preserving access to energy and rare earths for the US and its allies, Helberg said.

The new fund is part of the US-led Pax Silica, which has expanded to include energy infrastructure projects following Iran’s blockade of the Strait of Hormuz, the report said.

Launched in December, the Pax Silica programme aims to cover the supply chain from critical minerals and energy to advanced manufacturing, chips, AI infrastructure and logistics. The UAE, Qatar, the UK, Japan, India, South Korea and Singapore are among its members.

Further reading:

• Riyadh must get creative to crack critical minerals conundrum
• US and Abu Dhabi to invest $2bn into critical minerals
• Critical minerals become a Middle East battleground