The North Stanmore project, located in the Cue de Australia Western region, houses heavy strange elements, Scandio and Hafnio.
Victory Metals of Australia announced on Wednesday that he had received a letter of interest (LOI) of the export and import bank of the United States (exim) for up to 190 million dollars in project financing to develop its North Stanmore heavy earth project in Western Australia.
The non -binding LOI positions the company among a select group of Australian developers of critical minerals to attract possible direct support from an important US government agency.
The financing, which will be granted through debt with an indicative period of 15 years, is part of the Export Exports and China (CTEP) program of the EXIM. This initiative seeks to strengthen the resilience of the US supply chain by supporting strategic mineral projects that reduce the dependence of Chinese sources.
“This is an important milestone for Victory and a clear sign of the strategic importance of our project not only for Australia but also for our allies abroad,” said Victory executive director Brendan Clark.
“The support of the exim, especially within the framework of the CTEP program, raises our potential as a safe and non -Chinese supplier of critical minerals.”
The LOI also opens the door so that the North Stanmore Califying project for a special treatment under section 402 of the 2019 re -authorization of the EXIM, which prioritizes projects that improve the leadership of the United States in vital areas for national security.
The North Stanmore project, located in the Cue de Australia Western region, houses heavy strange elements, scandio and hafnio, materials that are increasingly critical for cleaning, aerospace and defense applications.
Although the letter of intent is not binding and is subject to due standard diligence and compliance with exim policies, Victory considers it a clear route to obtain long -term financing with government support. The company expects support to strengthen its position in negotiations with distribution partners, manufacturers of original equipment and defense -related industries that seek alternative supply chains.
Victory said he was still concentrated in advancing with the North Stanmore project towards production, releasing the potential of the site to supply global markets with critical materials of high value and ethical origin.
