From Yahoo Finance: 2025-06-15 14:17:00

Critical Metals Corp receives a $120 million loan offer from the U.S. Export-Import Bank for a rare earths mine project in Greenland. The loan aims to lessen U.S. dependence on China for minerals and support companies competing with China. Project expected to begin production by 2026, producing rare earths concentrate.

The loan would have a 15-year repayment term and require strategic investor equity. The project is expected to cost $290 million, with the loan funding technical work and initial production by 2026. The Tanbreez project aims to produce 85,000 metric tons per year of rare earths concentrate and two minor metals.

Washington’s support for the Tanbreez project is part of a larger strategy to reduce reliance on China for rare earths. The move follows previous efforts by the Biden and Trump administrations to support the project and Greenland’s mining sector. The U.S. aims to increase its access to critical minerals for high-tech industries.

Despite the loan potential, Critical Metals must still build a processing facility or find existing capacity. The company aims to process the material in the U.S., a goal the EXIM loan would support. Critical Metals is exploring offtake agreements, royalty streams, and funding from other U.S. agencies to meet additional requirements.

Critical Metals’ 10th-largest investor is Cantor Fitzgerald, formerly led by Howard Lutnick. The company has held supply talks with defense contractor Lockheed Martin. EXIM previously extended a loan offer to Perpetua Resources for another mining project. The rare earths industry remains a focal point of global economic trade and competition.

Read more: Exclusive-US Export-Import Bank considers $120 million loan for Greenland rare earths project