The US Export Bank is looking at a $ 120 million loan for the Greenland Earth Project

By Ernest Shater

(Reuters) -Critical Metals Corp received a interesting letter from the American Export Bank (EXIM) to obtain a loan of $ 120 million to finance the company’s Greenland’s Tanbrez Rarez Rarez Rarez Rarez Rarez Rarez, while the first investment in the Trump administration abroad will be in a mining project.

If approved, the loan will enhance us from increasingly access to minerals at the World Economic Trade Center and help compensate the country’s dependence on the Chinese market leader. It also comes after President Donald Trump publicly contemplated earlier this year about obtaining the Danish island region, which was repeatedly rejected.

In a letter dated June 12 and reviewed by Reuters, the New York -based metals have fulfilled the initial requirements for applying for a $ 120 million EXIM loan, and if approved, it will be for 15 years of payment, the company is likely to have special funding.

The letter said that the project should be “a good component with sufficient royal rights from strategic investors” to receive the loan.

The EXIM, which works as the Credit Agency for Export of the United States, said in the letter that critical minerals are qualified for the loan program designed to support companies competing with China.

The Tanbreez project is expected to cost $ 290 million and Exim funds will be used to finance artwork and obtain a mine to initial production by 2026. Once it is completely operated, the mine is expected to produce 85,000 metric tons annually from the rare ground concentration and two simple minerals.

“This financing package is expected to open a great value for our project and our stakeholders,” said Tony Sig, CEO of the company.

Exim representatives are not available immediately to comment.

This step is the latest in a series of supportive measures made by Washington towards the Tanbps deposit and the mining sector in Greenland. Reuters reported in January that the administration of former President Joe Biden has successfully pressed the non -sale Tanbreez mining to a Chinese developer and instead sold for critical minerals.

Biden officials were recently visiting Nuuk last November in an attempt to attract additional private investment on the island. Trump sent Vice President JD Vance to the island in March.

The island’s mining sector has developed slowly in recent years, has impeded the investor’s limited attention, bureaucratic challenges and environmental concerns. Currently, only two small mines are running.

Rare land has strong magnetic properties that make it decisive for high -tech industries ranging from electric cars to missile systems. Their necessity led to intense competition, as Western countries try to reduce their dependence on the semi -cardiac control of its extraction and treatment.