Tronox receives letters of support from EXIM, EFA for $600M in financing

Tronox (TROX) announced it has received coordinated, non-binding and conditional letters of support / interest from Export Finance Australia and Export-Import Bank of the United States, respectively, for up to $600M in limited or non-recourse financing to support the development of Tronox’s rare earth supply chain, including mine extensions, infrastructure support and cracking and leaching capacity. The coordinated letters from EXIM and EFA are part of the agencies’ work under the United States-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths announced in October of this year. The letters represent a demonstration of interest in working with Tronox as it seeks to utilize the company’s existing mining and processing capabilities to build out a rare earth elements supply chain. Tronox recently completed a pre-feasibility study and is now progressing to a definitive feasibility study for a proposed cracking and leaching facility in Western Australia to produce a mixed rare earth carbonate including both light and heavy rare earths. Tronox will now be working with downstream customers and other key business partners to develop a financeable project structure.