EXIM Powers America First with $2.2 Billion in Critical Minerals Commitments to Secure U.S. Supply Chains with Australia
WASHINGTON, D.C. — The Export-Import Bank of the United States (EXIM) today announced seven Letters of Interest (LOIs) totaling more than $2.2 billion to advance U.S.-aligned critical minerals projects in Australia, underscoring EXIM’s role as a catalyst for President Trump’s America First industrial revitalization.
The LOIs were issued to Arafura Rare Earths, Northern Minerals, Graphinex, La Trobe Magnesium, VHM, RZ Resources, and Sunrise Energy Metals. They represent the next phase in securing the minerals that power American manufacturing, national security, and other strategic industries.
The supported projects span a range of critical minerals, including rare earth elements, graphite, magnesium, titanium, and scandium, each essential to advanced defense systems, aerospace components, communications equipment, and next-generation industrial technologies. By supporting these materials, EXIM is directly contributing to the resilience of U.S. defense supply chains and the reindustrialization of America’s high-tech manufacturing base.
These commitments advance the President’s critical minerals agenda, as highlighted in the White House Fact Sheet on the U.S.–Australia State Visit.
“Under President Trump’s leadership to strengthen U.S. national security and economic resilience, EXIM is proud to issue more than $2.2 billion in Letters of Interest advancing critical minerals and supply-chain security projects between the United States and Australia,” said Chairman Jovanovic. “Each of these projects reflects our commitment to enhancing supply chain resilience, revitalizing domestic manufacturing, and creating high-quality U.S. jobs. By fostering collaboration between American and Australian industry, EXIM is helping deliver on the President’s vision to secure the critical resources that power America’s economy and national security.”
Six of the seven projects are being pursued in partnership with Export Finance Australia (EFA) under the EXIM–EFA “Single Point of Entry” framework, demonstrating allied cooperation to counter China’s export dominance and ensure Western supply-chain resilience.
Earlier today, EXIM hosted a signing ceremony at its Washington headquarters to mark the announcement of these Letters of Interest. Chairman Jovanovic welcomed The Hon. Madeleine King MP, Australia’s Minister for Resources, along with representatives from Export Finance Australia. The event highlighted the strength of the U.S.–Australia partnership and the shared commitment to advancing allied critical minerals projects.
Chairman John Jovanovic and Australian Minister for Resources Madeleine King sign Letters of Interest at EXIM headquarters in Washington, D.C., October 20, 2025.
ABOUT EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.
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