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Aclara Resources Receives Letter of Interest from EXIM for Up to $750 Million Financing

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Aclara Resources (ARA.TO) has received a letter of interest from the Export-Import Bank of the United States (EXIM) for up to $750 million in financing for the Project Dynamo rare earths facility in Louisiana.

The EXIM financing is expected to have a repayment tenor of up to 15 years. The letter of interest remains subject to EXIM's due diligence and does not represent a final financing commitment, Aclara said Friday.

"Our objective is to establish a secure, traceable and sustainable supply chain capable of serving the United States and allied industries across some of the most critical sectors of the global economy," Chief Executive Officer Ramon Barua said.

"We are grateful for EXIM's consideration of our US separation, metals and alloys facility and look forward to working closely together as we advance it into its next stage of development," Barua added.

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