Tronox stock jumps on $600M potential EXIM-EFA financing

Tronox Holdings’ (NYSE: TROX) stock surged Tuesday after it announced it received coordinated, conditional letters of support and interest from the Export-Import Bank of the United States (EXIM) and Export Finance Australia (EFA) for potential limited financing of up to $600 million.The financing would support development of the Stamford, Connecticut-based company’s rare earth supply chain, including mine extensions, infrastructure support, and cracking and leaching capacity.Tronox is also a global producer of titanium products from its mineral sands mines in Australia, South Africa and Brazil.The company said it is advancing a definitive feasibility study for a proposed cracking and leaching facility in Western Australia, aimed at producing mixed rare earth carbonate containing both light and heavy rare earth elements.Tronox already mines and sells tailings material containing monazite. This financing would see the company capture multiples more value from its supply base, it said.The letters align with the US-Australia Framework for Securing Supply in the Mining and Processing of Critical Minerals and Rare Earths, announced in October, and EFA’s Single Point of Entry framework. EFA administers Canberra’s National Interest Account which includes the country’s $4 billion Critical Mineral Facility established in 2021.Tronox Holdings stock was up over 32% by 2pm in New York. The company has a $782.4 million market capitalization. Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com