EXIM Bank Issues Letter of Interest to Fund up to US$456M for Wyoming Rare Earth Project

Highlights Wyoming Rare (USA) Inc. has received a non-binding Letter of Interest from the Export-Import Bank of the United States ("EXIM") for up to US$456M in a debt financing package for the construction and execution phase of the Cowboy State Mine area at the Halleck Creek Project.  The debt financing will have a repayment term of 15 years under EXIM's Make More In America Initiative. EXIM is the official export credit agency of the U.S. Federal Government with the mission to support U.S. exporters and jobs. The Cowboy State Mine area is the first step in a multi-phase approach to developing the Halleck Creek deposit in Wyoming. The Halleck Creek deposit has the potential to be a multi-generational rare earths asset for the U.S. The deposit has a 2.34 billion tonne JORC resource, containing 7.48 million tonnes of total rare earth oxides, including key magnet metals like Neodymium (Nd) and Praseodymium (Pr) oxides.1 DENVER, Sept. 24, 2024 (GLOBE NEWSWIRE) -- American Rare Earths ((ASX: ARR, OTCQX:ARRNF, OTC:AMRRY) ("ARR" or the "Company") is pleased to announce that its 100% owned subsidiary, Wyoming Rare (USA) Inc. ("WRI"), has received a non-binding Letter of Interest from the Export-Import Bank of the United States ("EXIM") to provide a debt funding package of up to US$456m for the construction and execution phase ...