US export-import bank considers extending $800m to NioCorp’s critical minerals project
The Export-Import Bank of the US (Ex-Im) has extended a letter of interest for potential debt financing of up to $800-million to Toronto-listed NioCorp to fund the costs of its proposed Elk Creek critical minerals project, in Nebraska.
The funding will be made available through Ex-Im’s ‘Make More in America’ initiative. NioCorp applied for a project finance letter of interest last month.
“We are very pleased with this letter of interest from the Export-Import Bank of the United States for NioCorp’s Elk Creek critical minerals project, and with the fact that we may qualify for as much as $800-million in debt financing from Ex-Im,” said NioCorp chairman and CEO Mark Smith.
“We look forward to finalising and submitting a formal loan application to Ex-Im and working closely with them through this process.”
The debt financing is subject to the satisfactory completion of due diligence, the negotiation and settlement of final terms, and the negotiation of definitive documentation. There can be no assurance that the debt financing will be completed on the terms as described above or at all.
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