Latest news with #SCRI
Yahoo
16-06-2025
- Business
- Yahoo
Critical Metals Corp Secures US$120,000,000 LOI for a 15-Year Term Loan From the US Federal Government Bank (EXIM Bank) for the Development of its Tanbreez Rare Earth Project in Greenland
Non-dilutive funding package expected to be sufficient to enable the Tanbreez Project to complete pre-production activities and commence mining NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ('Critical Metals Corp' or the 'Company'), a leading critical minerals mining company, today announced that it has received a Letter of Interest from the Export-Import Bank of the United States (EXIM), for a total non-dilutive funding package of $120 million. This funding package from the U.S's official export credit agency is expected to be used to develop the Tanbreez Project, one of the world's largest rare earth deposits located in Greenland. Based on preliminary information submitted by Critical Metals Corp for the Tanbreez Project, EXIM will consider financing up to $120 million of the project's costs with a repayment term of 15 years under EXIM's new Supply Chain Resiliency Initiative (SCRI). The amount of funding is expected to be sufficient for Critical Metals Corp to complete necessary technical and economic studies, pre-production activities, and begin mining at the Tanbreez Project. The Company expects that the Tanbreez Project will require $290 million in capital expenditure to bring it to initial commercial production. In its initial commercial production phase, the Company expects that the Tanbreez Project will be capable of producing up to 85,000 metric tons of rare earth material annually. 'This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China's continued dominance,' said Tony Sage, CEO and Chairman of Critical Metals Corp. 'The Company appreciates the support of EXIM Bank and the US Federal Government as well as our Greenland partners in this major achievement. We are now razor focused to put Tanbreez into production as soon as possible.' In addition to continuing to progress its verification, de-risk the asset, and prepare for additional pre-production activities, including additional drilling, Critical Metals Corp expects to complete a definitive feasibility study by the end of 2025, which is expected to include important data, such as volumes and timeline estimates. In addition, the Company expects to invest $10 million in exploration expenses in Tanbreez in 2025 to have the option to acquire an additional 50.5% of the asset, bringing its total ownership to 92.5%. The proposed funding package may be eligible for special consideration under Section 402 of EXIM's 2019 reauthorization, which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China and other covered countries and/or to advance the comparative leadership of the United States in Transformational Export Areas. The SCRI program is under The China and Transformational Exports Program (CTEP), which is an EXIM program established to help U.S. exporters compete with Chinese companies and ensure U.S. leadership in emerging technologies. Through CTEP, U.S. companies can benefit from reduced fees, extended repayment terms, and other tailored policies. About Critical Metals Corp. Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean. Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world. For more information, please visit About the Export-Import Bank of the United States The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target,' 'designed to' or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the 'Risk Factors' section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Critical Metals Corp. Investor Relations: ir@ Media: pr@ 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
13-06-2025
- Business
- Yahoo
NMG receives LOIs for more than C$1bn in project debt financing
Nouveau Monde Graphite (NMG) has received letters of interest (LOIs) for more than C$1bn ($731.3m) in project debt financing to fund the company's phase-two Matawinie Mine and Bécancour Battery Material Plant in Québec, Canada. The financing structure is expected to include contributions from syndicate institutional funds and export credit agencies. The company's updated feasibility study, released earlier this year, confirmed the technical and economic viability of its integrated graphite projects, boasting an after-tax internal rate of return of 17.5% and a net present value of C$1.05bn. With this foundation, NMG is moving towards a final investment decision (FID) for phase two of its operations. Export Development Canada (EDC) has expressed interest in providing up to C$430m. The Export–Import Bank of the United States has also issued an LOI for $172m under its Supply Chain Resiliency Initiative (SCRI). The SCRI is designed to diversify US supply chains, reduce dependency on China, and bolster US national and economic security while creating US jobs. Additionally, more than $481m in potential support has been indicated by undisclosed parties. While details remain confidential, these discussions underscore the strategic and economic importance of NMG's project. NMG founder, president and CEO Eric Desaulniers said: 'We have been extremely busy in the past weeks to present the results of our Updated Feasibility Study and engage with our financial stakeholders to advance our project financing. Feedback has been positive as demonstrated by the quality of lenders rallying behind our business plan. 'Economies around the world are seeking opportunities to relocate and secure critical minerals mining and processing to enable local manufacturing, economic resilience, energy autonomy and national security.' NMG is actively engaging with various governmental bodies and public institutions to finalise the overall debt funding package. The anticipated debt structure is in line with NMG's financing projections and contemplates long-term debt or guarantees with a maturity beyond ten years. The non-binding LOIs are a precursor to finalising a term sheet and are part of a broader financing strategy that includes equity financing and fulfilling conditions precedent. While negotiations continue, there is no certainty that final agreements will be reached or that funding will be secured. Specialised advisory firms are conducting due diligence to assess corporate, technical, market and environmental, social and governance aspects of the phase-two operations. The results of this due diligence will inform the structuring of legal documentation and the project debt package before the investment committee reviews. NMG is also preparing for an FID by advancing technical documentation, negotiating supplier contracts and preparing for construction tenders. In December last year, NMG received $50m in equity investment from the Canada Growth Fund and the Government of Québec, through Investissement Québec, to support its graphite operations. "NMG receives LOIs for more than C$1bn in project debt financing" 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
Associated Press
04-06-2025
- Business
- Associated Press
Veeva and Sarah Cannon Research Institute Form Strategic Collaboration to Advance Oncology Clinical Trials
Leading oncology research organization adopts Veeva Clinical Platform to enhance study delivery PLEASANTON, Calif. and NASHVILLE, Tenn., June 4, 2025 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) and Sarah Cannon Research Institute (SCRI) today announced a strategic collaboration to drive speed and efficiency in oncology clinical trials across SCRI's more than 200 research site locations. SCRI is adopting Veeva Clinical Platform to unify its contract research organization (CRO) and site management organization (SMO) on a single platform for seamless data flow across clinical teams and research sites. 'We are thrilled to advance our clinical trials by integrating Veeva Clinical Platform into our digital toolkit,' said SCRI chief information and digital officer Yazhene Krishnaraj. 'This strategic collaboration empowers our clinical teams to deliver groundbreaking therapies to patients with enhanced precision and speed.' Veeva Clinical Platform will enable SCRI to simplify and standardize trial processes and information flow, improving how investigators and clinical teams work together and share data. With a connected foundation for clinical research, SCRI will be able to automate key processes and provide a streamlined experience for its sites. 'We're excited to work closely with SCRI to drive innovation in oncology research,' said Jim Reilly, president of Veeva Development Cloud. 'In a first-of-a-kind partnership, Veeva Clinical Platform will serve as SCRI's clinical trial foundation for its CRO and SMO. By standardizing operations on one platform, we can support SCRI in delivering faster and more cost-effective trials.' About Veeva Clinical Platform Veeva Clinical Platform is a complete and connected platform across clinical operations and data applications. This end-to-end platform includes CTMS, EDC, clinical workbench (CDB), RTSM, eCOA, eTMF, Site Connect, Study Training, and more. Connected products streamline clinical trials from study start-up to close and automate a connected data flow. To learn more about Veeva Clinical Platform, visit About Sarah Cannon Research Institute Sarah Cannon Research Institute (SCRI) is one of the world's leading oncology research organizations conducting community-based clinical trials. Focused on advancing therapies for patients over the last three decades, SCRI is a leader in drug development. It has conducted more than 850 first-in-human clinical trials since its inception and contributed to pivotal research that has led to the majority of new cancer therapies approved by the FDA in the past decade. SCRI's research network brings together more than 1,300 physicians who are enrolling patients to clinical trials at over 200 locations in more than 20 states across the U.S. Visit to learn more. About Veeva Systems Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit Veeva Forward-looking Statements This release contains forward-looking statements regarding Veeva's strategic collaboration with SCRI and the expected results or benefits from such collaboration. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2025, which you can find here (a summary of risks which may impact our business can be found on pages 32 and 33), and in our subsequent SEC filings, which you can access at View original content to download multimedia: SOURCE Veeva Systems
Yahoo
04-06-2025
- Business
- Yahoo
Veeva and Sarah Cannon Research Institute Form Strategic Collaboration to Advance Oncology Clinical Trials
Leading oncology research organization adopts Veeva Clinical Platform to enhance study delivery PLEASANTON, Calif. and NASHVILLE, Tenn., June 4, 2025 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) and Sarah Cannon Research Institute (SCRI) today announced a strategic collaboration to drive speed and efficiency in oncology clinical trials across SCRI's more than 200 research site locations. SCRI is adopting Veeva Clinical Platform to unify its contract research organization (CRO) and site management organization (SMO) on a single platform for seamless data flow across clinical teams and research sites. "We are thrilled to advance our clinical trials by integrating Veeva Clinical Platform into our digital toolkit," said SCRI chief information and digital officer Yazhene Krishnaraj. "This strategic collaboration empowers our clinical teams to deliver groundbreaking therapies to patients with enhanced precision and speed." Veeva Clinical Platform will enable SCRI to simplify and standardize trial processes and information flow, improving how investigators and clinical teams work together and share data. With a connected foundation for clinical research, SCRI will be able to automate key processes and provide a streamlined experience for its sites. "We're excited to work closely with SCRI to drive innovation in oncology research," said Jim Reilly, president of Veeva Development Cloud. "In a first-of-a-kind partnership, Veeva Clinical Platform will serve as SCRI's clinical trial foundation for its CRO and SMO. By standardizing operations on one platform, we can support SCRI in delivering faster and more cost-effective trials." About Veeva Clinical PlatformVeeva Clinical Platform is a complete and connected platform across clinical operations and data applications. This end-to-end platform includes CTMS, EDC, clinical workbench (CDB), RTSM, eCOA, eTMF, Site Connect, Study Training, and more. Connected products streamline clinical trials from study start-up to close and automate a connected data flow. To learn more about Veeva Clinical Platform, visit About Sarah Cannon Research InstituteSarah Cannon Research Institute (SCRI) is one of the world's leading oncology research organizations conducting community-based clinical trials. Focused on advancing therapies for patients over the last three decades, SCRI is a leader in drug development. It has conducted more than 850 first-in-human clinical trials since its inception and contributed to pivotal research that has led to the majority of new cancer therapies approved by the FDA in the past decade. SCRI's research network brings together more than 1,300 physicians who are enrolling patients to clinical trials at over 200 locations in more than 20 states across the U.S. Visit to learn more. About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva's strategic collaboration with SCRI and the expected results or benefits from such collaboration. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2025, which you can find here (a summary of risks which may impact our business can be found on pages 32 and 33), and in our subsequent SEC filings, which you can access at Contact: VeevaDeivis Mercado SCRIBecca View original content to download multimedia: SOURCE Veeva Systems 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
NDTV
02-06-2025
- Business
- NDTV
Investment, Port Digitisation Discussed In India-Japan Meet On Maritime Ties
Investment, port digitisation and employment of Indian seafarers by Japan were among the topics discussed by Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal in a bilateral meeting with Terada Yoshimichi, Japan's Vice Minister for International Affairs, and the Ministry of Land, Infrastructure, Transport & Tourism (MLITT). Monday's meeting between the two countries also included discussions on green port initiatives, increase in research and development cooperation, upskilling human resources, and using sustainable technologies, disaster-resilient infrastructure, and enhanced connectivity to enable Andaman and Nicobar and Lakswadeep islands to be converted into Smart Islands. Acknowledging the rich expertise of Japan in developing island territories, Mr Sonowal said, "Japan's expertise in this area is highly valued. We see scope for joint work in the Andaman & Nicobar and Lakshadweep islands, particularly in deploying renewable energy, smart mobility systems, and digital infrastructure. These initiatives will further our shared commitment to ecological conservation and regional maritime security." The meeting also discussed about increasing partnership between Indian and Japanese shipyards, including greenfield investment, such as Imabari Shipbuilding in Andhra Pradesh. Opportunities for co-development of ports and maritime industrial clusters were also gauged for mutual cooperation. Mr Sonowal expressed India's interest in leading Japanese shipbuilding companies such as Imabari Shipbuilding, JMUC, Kanagawa Dockyard, and Mitsubishi Heavy Industries to explore joint ventures and collaborative arrangements with Indian yards. "Japan's expertise in shipbuilding and ship repair is well recognised, and I see great scope for collaboration in this area. We also invite Japan's Big Three maritime companies-NYK Line, MOL, and K Line-to explore joint ventures and investment opportunities in India's growing maritime sector. With our strong bilateral relationship, India's growing maritime industry present a unique opportunity for Japanese shipyards to invest in India in shipbuilding. Collaboration on port digitisation and green port initiatives will further strengthen the resilience and sustainability of our maritime logistics network," said Mr Sonowal. Speaking on the occasion, Mr Sonowal said, "Relations between India and Japan have a long history rooted in spiritual affinity and strong cultural and civilisational ties. Our collaboration under the Quad framework and the India-Japan-Australia Supply Chain Resilience Initiative (SCRI) reflects our shared commitment to strengthening regional maritime security and economic integration. India appreciates Japan's leadership in key initiatives such as the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), and the Leadership Group for Industry Transition (LeadIT). As India moves ahead to transform its maritime sector under the visionary leadership of Prime Minister Narendra Modi, India is advancing port infrastructure, green shipping, shipbuilding and digitalisation under 'Maritime India Vision 2030' and 'Maritime Amrit Kaal Vision 2047'. India seeks Japan's participation in these transformative initiatives." Mr Yoshimichi expressed that India and Japan have very intimate relationship. Japan has been engaged in railway infrastructure development with India but now it is "very interested in maritime sector", he said. Prospects of mutual collaboration in shipbuilding and training of seafarers were discussed and considered positively. Emphasising the need to deepen bilateral ties in maritime training and development, as well as cooperation in research and development, both sides agreed to further strengthen collaboration in the maritime sector, especially on sustainable maritime technologies and next-generation ship design. Mr Sonowal evinced India's interest for a Memorandum of Understanding for a framework to avail promising avenues for collaboration with Cochin Shipyard Limited (CSL), Indian universities and public agencies.
