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Australian Strategic Materials ASM.AX said on Friday it has received a non-binding letter of interest for a debt funding package of up to A$400 million from Canada’s official export credit agency.
The funding is for the development of its rare earths and critical minerals Dubbo Project in New South Wales, the company said. As per the letter of interest, debt provider Export Development Canada will also supply equipment and services from Canadian companies for the development of the Dubbo project.
The offer comes amid rising interest from North American parties in Australian miners, after Australia and North America decided to set up an alternative critical minerals supply chain between the two regions. “Our focus has been on building strategic partnerships in North America that support the development of our mine to metals strategy,” said CEO Rowena Smith.South Africa scrutinises BHP bid for Anglo weeks before electionEVs could reach 17 million in 2024, accounting for more than one in five cars sold worldwide, according to the International Energy Agency.The world’s largest miner wants to buy Anglo American, but only if its London-based peer divests Amplats and Kumba.
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