The Export-Import Bank of the United States (EXIM) has announced $58m in financing for three critical minerals projects, covering graphite, tantalum, niobium and boron.
The deals were announced at US President Donald Trump’s critical minerals roundtable at the White House on 7 August.
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EXIM is providing a $25m loan to Westwater Resources for its graphite project in Alabama. Graphite is used in battery manufacturing.
A further $25m loan is being directed to Global Advanced Metals in Pennsylvania for tantalum and niobium projects. The minerals are used in electronics, magnets and steel production.
EXIM is also providing an $8m loan to 5E Advanced Materials for its 5E Boron Americas project in California. Boron is used in permanent magnets, semiconductors and glass.
EXIM chairman John Jovanovic said the three deals form part of the agency’s strategy to “fortify our supply chains” and support industries dependent on critical minerals.
“Critical mineral security is national security,” Jovanovic said, adding that the projects would help address supply shocks and support US industries and jobs.
EXIM is the US government’s official export credit agency and provides financing including export credit insurance, working capital guarantees, loan guarantees and direct loans.
The agency said the financing is intended to support economic growth, secure critical supply chains and facilitate US exports.
