Overview

• EXIM’s June 12 letter of interest proposes a 15-year loan of up to $120 million to fund Critical Metals’ Tanbreez project in Greenland.
• Approval of the financing is conditioned on the mine being well-capitalized with sufficient equity from strategic investors.
• The $290 million Tanbreez development targets initial production by 2026 and plans to produce about 85,000 metric tons of rare earth concentrate annually.
• Bipartisan backing from both the Biden and Trump administrations reflects a concerted effort to reduce US dependence on China for high-tech minerals.
• Critical Metals still needs to secure or build US processing capacity and has held supply talks with defense firms including Lockheed Martin.