Lisa Reisman

Lisa and I spent the last two weeks visiting our nation’s parks. At times, we stood only inches away from thousand-foot drops. It was one of the best trips I have taken in a long time. New to these parks, some trails were smooth and easy to follow. Others were narrow, rocky, and close enough to the edge to make you watch every step. The trails reminded me of building a business. Sometimes the path is clear. There are signs, maps, and people showing the way. Other times, you have to slow down, study the ground, make a choice, and see where it leads. When I started slinging sandwiches in the mid-1990s, everyone talked about “location, location, location.” We challenged that idea. We delivered quickly, and instead of waiting for customers to find us, we went to them and put sandwiches in their mouths. I had great mentors, but no perfect guide. I had to experiment, fail, learn, and start again. Then the internet changed how we found information. Suddenly, there were endless articles, videos, experts, coaches, and opinions. Some of it was helpful. A lot of it was noise. The hard part was no longer finding information. The hard part was deciding which information mattered. Now AI is changing things again. AI can give us more summaries of information than ever before. But information alone does not move us forward. We still have to decide what matters and which step to take next. Sometimes, what we need is not another answer. We need something that helps us take the next step. As I walked those mountain trails, I realized that is exactly what a handrail does. Whenever one was available, I used it. Not because I was weak. Not because I could not walk without it. I used it because it helped me move faster with more confidence. There is an important difference between a handrail and a crutch. A crutch is something we depend on so much that we struggle to function without it. A handrail supports us while we are still moving under our own power. Mentors, peers, books, checklists, plans, and trusted guides can all be handrails. The problem is not using tools. The problem is allowing tools to replace our effort, judgment, and responsibility. A good tool does not do all the walking for you. It helps you see the next step. It helps you avoid a needless fall. It helps you move forward with confidence. There is no prize for refusing to use a handrail just to prove that you can walk alone. Use the tools that help. Learn from people who have already walked the trail. Avoid mistakes that do not need to be repeated. Just make sure you are still the one doing the walking. Use the handrail. Do not turn it into a crutch. And every once in a while, put down the screen, touch some grass, and remember why the journey matters. ps. the picture is straight off an Android phone, no filter necessary

Zimbabwe's lithium producers asked to push their export ban deadline to mid-2027. The government said no, and I think that single decision declares who owns Zimbabwe's mining industry for decades. For context, Zimbabwe banned raw lithium ore exports in December 2022, and processing DID get built by the companies already holding the ground, with no runway for anyone else to establish a presence. Huayou commissioned a $300M concentrator at Arcadia in 2023, built in nine months, exporting by that April. When an additional ban was placed on concentrate exports this February, Huayou answered again, starting production at a new $400 million lithium sulfate plant. Sinomine has flagged ~$500 million, phased, at Bikita. Two bans, two plants, one company... Sadly, this specific beneficiation policy moves value up into exactly the assets Zimbabweans do not own (Arcadia is 100% Huayou. Bikita is 74% Sinomine.) Indonesia ran the same experiment at scale, with similar results: full nickel ore ban in January 2020, ~$30 billion of Chinese downstream investment, smelters from ~3 in 2014 to ~49, export revenue from ~$11.9 billion to over $38 billion by 2024. Indonesia now produces ~60% of the world's nickel. On direct ownership, Chinese shareholders hold ~61% of that refining capacity against ~13% for Indonesian shareholders. Trace beneficial ownership and the Chinese share is >75%. Where no builder is already standing there, it results in extreme value destruction: stranded ore, producers eating the losses, and countries losing jobs, tax revenue, and credibility as investment jurisdictions. Examples: Tanzania gold and copper concentrate ban instated in 2017 and scrapped in 2020, no smelter built; Zimbabwe's first chrome ban (2011 to 2015) went the same way, output down ~65% with Zim Alloys and Zimasco shuttered; Indonesia's 2014 bauxite ban was rescinded in 2017 for the same reason. I absolutely understand the desire for a country to want additional beneficiation done in their country: more investment, more jobs, more tax revenue, more value. However, this cannot be done overnight, particularly where you want to enable local participation. As a framework, I like the phased approach Tony Carroll and Jef Caers set out in last week's Atlantic Council Critical Minerals Task Force report: local-processing requirements raised proportionally over five-year periods. Five years tracks the 3 to 5 a plant actually takes to commission. That gives capital not already in-country time to show up, and gives local ownership a chance to build alongside it rather than behind it. https://lnkd.in/g6EaYv_6 #CriticalMinerals #MiningFinance #Africa #Processing #SupplyChain

The U.S. Department of State dropped a $500M announcement for critical minerals in Africa last week and I don't think its getting the fanfare it deserves. The U.S.-Africa Strategic Investment Program will be ~10 awards of $5M to $50M each, structured as grants or cooperative agreements with no cost-share requirement. The initial application is a two-page statement of interest rather than a full proposal, so the cost of raising your hand is close to nothing. The windows roll quarterly, with the first closing August 21, the next November 30, and an optional notice of intent due September 11. As we all know, the bottleneck in critical minerals is not the ore in the ground, it is the enabling environment around it: processing capability, transparent pricing, bankable offtake, and regulatory and logistics groundwork that Western capital wants in place before it will underwrite a project. I believe this program goes straight at that gap with non-dilutive money, aimed at pulling private capital toward financial close instead of crowding it out. If you are building or financing critical minerals in Africa, I think this is worth a look. https://lnkd.in/gdHRpSiV #CriticalMinerals #Africa #SupplyChains #ProjectFinance #LobitoCorridor

OMNISIGHT | Ascend Elements raised over $1 billion. Then filed for Chapter 11 — after losing a patent fight to a mid-sized German recycler, not a Chinese state champion. That's the clearest proof yet that Western "bankability" frameworks are solving the wrong problem. Capital doesn't buy freedom to operate — and no amount of DoD price floors or #EU grants changes that if the underlying process IP sits behind someone else's patent wall. I wrote up the full picture — the recycling loophole closing under #MOFCOM No. 70, the Chinese equity stakes quietly capturing "independent" European recyclers, and a reframe from Moerenhout/Nadrowski on why matching China's spending won't fix this — in the article below. Read the full breakdown here- 👇 👇 👇 #CriticalMinerals #SupplyChainSecurity #Bankability #RareEarths #BatteryRecycling #IRF #OMNISIGHT

📢 It's official!! I am very excited to announce that I have joined Aperam Stainless & Solutions USA as Commercial Manager, National Accounts, with a focus on customers across the Northeastern and Southeastern US. Aperam is a value-added extension of a Top 10 global stainless-steel producer, and I get to bring that strength directly to the service centers and manufacturers who depend on stainless to build. My focus is simple: build real partnerships, grow accounts, and make sure every commitment we make is one we deliver. Reliable supply, in-house processing, and the metallurgical know-how to solve the hard problems, backed by a company with the financial strength to stand behind it. If you work in the stainless world, I would love to be your call when you need material sourced, processed, or problem solved. Grateful for this opportunity and ready to get to work. Let's connect! 📧 julie.treska@aperam.com #StainlessSteel #Aperam #Sales #BusinessDevelopment #Metals

The behavior of the head of the Smithsonian's Museum of American History at yesterday's hearing was appalling. She made clear she'll keep smearing the US as racist and genocidal, and denying biological sex. If she and Smithsonian Secretary Lonnie Bunch don't resign, Congress must defund it. https://lnkd.in/g6CxH7_b

Four years ago, we asked a question: How do we help more young people, especially girls, experience the life-changing benefits of rowing? That question became Camp Lucy. What started as a three-day pilot in 2021 has grown into a regional program serving young women across three boathouses. Today, Camp Lucy helps girls, many of whom have been historically underrepresented in rowing, discover confidence, leadership, and community on and off the water. The impact has been incredible. Camp Lucy now fills months in advance, former campers are returning as counselors, and young women who once arrived unsure of themselves are helping lead the next generation. Now we’re inviting women to be part of this mission in a new way. Introducing Camp Lucille, a women’s rowing and wellness retreat at beautiful Suttle Lake in Central Oregon, September 16–18, 2026. Camp Lucille is three days designed for women who love rowing, want to reconnect with the water, or simply want time to recharge with an inspiring community. Participants will experience coached rowing, wellness activities, meaningful conversations, and the beauty of the Pacific Northwest, all while directly supporting opportunities for young women through Camp Lucy. Only 22 spots are available. Join us for the next chapter of this story. Register here: https://lnkd.in/ge-e4GUP #Rowing #WomensSports #GirlsInSports #Leadership #Community