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Digging in: The Implications of Fiscal Spend on the World of Raw Materials

10th October 2025

In recent years, fiscal spending has surged across multiple economies as governments attempt to counter slowing growth, stabilize debt-laden economies, and accelerate the energy transition. Whether in the form of infrastructure stimulus or targeted subsidies for clean energy, the logic is consistent: state-led investment is considered the quickest lever to boost demand and drive structural change.

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