Latest news with #ChinaandTransformationalExportsProgram
Hamilton Spectator
13-05-2025
- Business
- Hamilton Spectator
Solidus Resources, LLC Receives Letter of Interest for up to $835 Million in Financing from Export-Import Bank of the United States for Nevada's Spring Valley Project
RENO, Nev., May 13, 2025 (GLOBE NEWSWIRE) — Solidus Resources, LLC (Solidus) is pleased to announce the Company's receipt of a Letter of Interest from the Export-Import Bank of the United States (EXIM) regarding the potential financing of up to $835,000,000.00 for the Spring Valley Project. The funding for this project is being considered under EXIM's Make More in America initiative and its China and Transformational Exports Program. Isser Elishis, Chairman and CEO of Waterton Mining (100% owner of Solidus) commented, 'The Spring Valley Project will be Nevada's next long-life heap leach gold mine. The significance of this transaction will be far-reaching, boosting domestic non-fuel mineral production, creating thousands of high-paying jobs, increasing significantly both local wages and tax revenues, and enhancing U.S. mining competitiveness.' He added, 'The Spring Valley application is a major gold critical mineral project under financing consideration by the Export-Import Bank of the United States under the recent Executive Orders on domestic mineral production and industrial reinvigoration. As such, it positions EXIM to lead in deploying federal capital through both its Make More in America initiative and its China and Transformational Exports Program and, at the same time, support the onshoring of strategic mineral production, encouraging U.S.-based sourcing of mining technology, and boosting exports of American-manufactured equipment and services. We are grateful for the Trump administration's support of our project.' About Solidus Resources, LLC Solidus Resources, LLC is a gold developer focused on advancing the Spring Valley Gold Project in Pershing County, Nevada, through permitting, construction, and into operations. Solidus is a wholly-owned subsidiary of Waterton Mining, a private mining company. For further information, please visit the Solidus Resources website at Alternatively, please contact: Jack McMahon, President info@
Yahoo
13-05-2025
- Business
- Yahoo
Solidus Resources, LLC Receives Letter of Interest for up to $835 Million in Financing from Export-Import Bank of the United States for Nevada's Spring Valley Project
RENO, Nev., May 13, 2025 (GLOBE NEWSWIRE) -- Solidus Resources, LLC (Solidus) is pleased to announce the Company's receipt of a Letter of Interest from the Export-Import Bank of the United States (EXIM) regarding the potential financing of up to $835,000,000.00 for the Spring Valley Project. The funding for this project is being considered under EXIM's Make More in America initiative and its China and Transformational Exports Program. Isser Elishis, Chairman and CEO of Waterton Mining (100% owner of Solidus) commented, 'The Spring Valley Project will be Nevada's next long-life heap leach gold mine. The significance of this transaction will be far-reaching, boosting domestic non-fuel mineral production, creating thousands of high-paying jobs, increasing significantly both local wages and tax revenues, and enhancing U.S. mining competitiveness.' He added, 'The Spring Valley application is a major gold critical mineral project under financing consideration by the Export-Import Bank of the United States under the recent Executive Orders on domestic mineral production and industrial reinvigoration. As such, it positions EXIM to lead in deploying federal capital through both its Make More in America initiative and its China and Transformational Exports Program and, at the same time, support the onshoring of strategic mineral production, encouraging U.S.-based sourcing of mining technology, and boosting exports of American-manufactured equipment and services. We are grateful for the Trump administration's support of our project.' About Solidus Resources, LLCSolidus Resources, LLC is a gold developer focused on advancing the Spring Valley Gold Project in Pershing County, Nevada, through permitting, construction, and into operations. Solidus is a wholly-owned subsidiary of Waterton Mining, a private mining company. For further information, please visit the Solidus Resources website at Alternatively, please contact:Jack McMahon, Presidentinfo@
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
Pure Lithium secures $300m LOI from EXIM for lithium battery facility
Pure Lithium has announced the receipt of a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for a $300m debt funding package for the company's first industrial-scale lithium metal vanadium battery manufacturing facility. The funding package with a 12-year repayment term will be provided under EXIM's Make More in America initiative, which supports US manufacturing and exports. EXIM will undertake thorough due diligence upon receiving a financing application from Pure Lithium to determine the viability of a final commitment. Any final agreement will be contingent upon meeting EXIM's underwriting standards, approval processes, and the fulfilment of all terms and conditions. Pure Lithium founder and CEO Emilie Bodoin said: 'This project will be very impactful for US manufacturing in the crucial sector of energy storage. Our disruptive Brine to Battery technology will enable the creation of the first complete US-based battery supply chain, from sourcing the materials to producing the finished product. 'Domestic battery production is imperative for US energy and national security. Additionally, this will boost US competitiveness globally – in line with the objectives of EXIM.' The potential transaction may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. This directive encourages EXIM to counteract competitive pressures from the People's Republic of China and other countries, and to promote US leadership in key transformative export areas. The China and Transformational Exports Program (CTEP) is a strategic EXIM programme designed to support US exporters in competing with Chinese companies and to assert US leadership in emerging technologies. The CTEP offers benefits such as reduced fees, longer repayment terms and customised policies for projects with a majority of US content. In March 2025, Pure Lithium secured funding from the US Department of Energy's Vehicle Technology Office to create a closed-loop domestic supply chain for lithium metal anodes. "Pure Lithium secures $300m LOI from EXIM for lithium battery facility" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
