WASHINGTON, USA — The Export-Import Bank of the United States (EXIM) has announced $58M in three major new rare earths deals designed to fortify US supply chains and revitalise the critical industries that Americans depend on every day.
“Under president Donald Trump’s leadership, America is leading the way in critical minerals development and rare earths processing,” said chairman John Jovanovic. “Critical mineral security is national security. These deals are a large part of EXIM’s strategy to fortify our supply chains, restore crucial industries that support well-paying American jobs, and safeguard everyday Americans from supply shocks.”
EXIM is directing a $25M loan to Westwater Resources in Alabama for graphite, a versatile component of battery manufacturing. The bank is also directing $25M to Global Advanced Metals in Pennsylvania for tantalum and niobium, critical minerals used in electronics, magnets, and steel production.
Finally, EXIM is directing an $8M loan to 5E Advanced Materials, LLC in California for their 5E Boron Americas project. Boron is a key component of permanent magnets, semiconductors, and glass. The deals were announced at president Trump’s Critical Minerals Roundtable earlier this afternoon.
As the United States government’s official export credit agency, the Export-Import Bank of the United States (EXIM) supports American jobs by facilitating US exports. As an independent agency, EXIM plays a critical role in supporting economic growth, securing critical supply chains, and ensuring American businesses are given a fighting chance. To achieve this mission, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans.