Latest news with #Export-ImportBankoftheUnitedStates
Yahoo
16-05-2025
- Business
- Yahoo
Solidus secures $835m financing interest from EXIM for Spring Valley project
US-based miner Solidus Resources has received a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential financing of up to $835m for the Spring Valley gold project in Pershing County, Nevada, US. This support aligns with EXIM's Make More in America initiative and China and Transformational Exports Program, both of which aim to enhance domestic mineral production and industrial revitalisation. Isser Elishis, chairman and CEO of Waterton Mining, Solidus' owner, said: '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 US mining competitiveness.' Elishis noted that the Spring Valley project is being considered for financing by EXIM following Executive Orders to boost domestic mineral production. The project is expected to contribute to strategic mineral onshoring, promote US-based mining technology, and increase US-manufactured equipment and services exports, Elishis added. The results from the project's feasibility study, announced in February 2025, highlight a ten-year life of mine (LOM) with annual gold production averaging more than 300,000oz, peaking at 348,000oz in the first five years. The all-in sustaining costs are estimated at $1,103/oz of gold, with initial capital expenditures of $823m. The Spring Valley operation is designed as a simple heap leach process with a single large open-pit mine. The ore is highly amenable to heap leaching, with a LOM strip ratio of 2.9:1. The project is estimated to contain mineral reserves of 3.8 million ounces (moz) at 0.016oz per tonne. Indicated resources are estimated at 4.4moz and inferred resources at 600,000oz, with potential for further exploration. Spring Valley is on schedule to receive all necessary permits for construction and operations this year. "Solidus secures $835m financing interest from EXIM for Spring Valley 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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
The Australian
23-04-2025
- Business
- The Australian
Break it Down: Victory Metals
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. West Australian heavy rare earths developer Victory Metals (ASX:VTM) has received a major letter of interest from the Export-Import Bank of the United States to support the growth of its North Stanmore project. The letter of intent, worth nearly $300 million, comes with a 15-year repayment term. Watch the video to learn more. While Victory Metals is a Stockhead advertiser, it did not sponsor this content.
Mercury
23-04-2025
- Business
- Mercury
Break it Down: Victory Metals
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Stockhead's Break it Down brings you today's leading market news in under 90 seconds. West Australian heavy rare earths developer Victory Metals (ASX:VTM) has received a major letter of interest from the Export-Import Bank of the United States to support the growth of its North Stanmore project. The letter of intent, worth nearly $300 million, comes with a 15-year repayment term. Watch the video to learn more. While Victory Metals is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: VTM shouts victory with EXIM funding
Miami Herald
16-04-2025
- Business
- Miami Herald
Electrovaya Presenting at the 2025 EXIM Bank Annual Conference
Electrovaya's CEO to Discuss Strengthening Domestic Manufacturing at the Annual Conference of Export-Import Bank of the United States(EXIM) in Washington DC TORONTO, ONTARIO / ACCESS Newswire / April 16, 2025 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announced that its CEO, Dr. Raj DasGupta will be participating in a panel discussion focused on Strengthening Domestic Manufacturing at the Export-Import Bank of the United States (EXIM) 2025 Annual Conference. The conference will be held on Tuesday April 29 and Wednesday April 30 at the Omni Shoreham Hotel in Washington, DC. Electrovaya recently closed a direct loan in the amount of US$50.8 million from the Export-Import Bank of the United States ("EXIM") under the bank's 'Make More in America' initiative. This financing will fund Electrovaya's battery manufacturing buildout in Jamestown, New York. Electrovaya has rapidly increasing demand for its products from a wide range of heavy duty and mission critical electrified applications, and it has been a priority of the Company to expand its manufacturing operations in the United States for these vital products. The Company's manufacturing facility in Jamestown is scheduled to produce Electrovaya's proprietary Infinity lithium-ion ceramic cells, which offer industry leading longevity and safety. EXIM's 2025 Annual Conference brings together nearly 1000 attendees, including CEOs, investors, bankers, exporters, business executives, and government officials at the local, state, and federal levels. Investor and Media Contact: Jason RoyVP, Corporate Development and Investor RelationsElectrovaya Inc.905-855-4618 / jroy@ About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy duty electric vehicles based on its Infinity Battery Technology Platform. This technology offers enhanced safety and industry leading battery longevity. The Company is also developing next generation solid state battery technology at its Labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000 square foot manufacturing facility in New York state for its planned gigafactory. To learn more about Electrovaya, please explore SOURCE: Electrovaya, Inc.
