Credit agency Export Development Canada (EDC) has indicated in a conditional letter of interest that it will provide a direct lending debt funding package of up to A$400-million to ASX-listed Australian Strategic Minerals (ASM).
The funds will be aimed at constructing and advancing to production the rare earths and critical minerals Dubbo project, in Australia.
The deposit is prospective for heavy rare earths, zirconium, nobium and hafnium.
ASM has been garnering support from export credit agencies and other parties across different jurisdictions for financing, with funders in North America showing the most interest.
The company attributes the interest to the strong policy alignment between Australia and North American jurisdictions, particularly to establish a critical minerals supply chain outside of China.
ASM previously received letters of support from Export Finance Australia…
