US, Australia Offer $600 Million Backing for Rare Earths Project

Australia and the US have offered potential financing of up to about A$849 million ($600 million) for a rare earths refinery project by Tronox Holdings, one of the clearest concrete commitments so far under their critical minerals partnership.

Export Finance Australia and the US Export-Import Bank issued coordinated letters of support or interest of as much as A$424 million each for the project, which spans Western Australia and the US, according to a joint release late Sunday.