US backs Australian lithium, rare earths projects for up to $786m
The United States has backed an Australian lithium and a rare earths project with up to $786-million in debt funding as Western countries seek to build supply chains for critical minerals.
Australia's American Rare Earths said on Tuesday it had received a letter of interest for a debt funding package of up to $456-million from the Export-Import Bank of the United States (EXIM) to support construction of the Cowboy State Mine area at its Halleck Creek Project in Wyoming.
"We are hopeful that it will serve as an anchor to help attract private funding into the project," said Melissa Sanderson, a member of the company's board of directors.
The bank has also offered $330-million to finance the construction of Anson Resources' lithium production plant in the Paradox Basin, Utah, the Australian company said on Tuesday.
Earlier this year, the bank backed two Australia-listed listed rare earths projects by Australian Strategic Materials and Meteoric Resources with up to $850-million of funding.
The United States and Australia established a critical minerals taskforce last year as Australia seeks to attract investment in minerals processing from allied countries, aiming to reduce reliance on China, which currently controls more than 80% of the global supply.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
