American Rare Earths (AU:ARR) has released an update.
American Rare Earths’ subsidiary, Wyoming Rare (USA) Inc, has received a Letter of Interest from the US Export-Import Bank for a potential $456 million debt financing package for their Cowboy State Mine project. This initiative is a part of the Make More In America Initiative, aiming to boost US exports and create jobs. Although not a final commitment, this funding is crucial for developing the Halleck Creek deposit, potentially a significant multi-generational rare earth asset for the US.
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