“We’re hopeful that it’s going to function an anchor to assist appeal to non-public funding into the challenge,” mentioned Melissa Sanderson, a member of the corporate’s board of administrators.
The financial institution has additionally provided $330 million to finance the development of Anson Sources’ lithium manufacturing plant within the Paradox Basin, Utah, the Australian firm mentioned on Tuesday.
Earlier this yr, the financial institution backed two Australia-listed listed uncommon earths tasks by Australian Strategic Supplies and Meteoric Sources with as much as $850 million of funding.
The US and Australia established a essential minerals taskforce final yr as Australia seeks to draw funding in minerals processing from allied nations, aiming to scale back reliance on China, which at the moment controls greater than 80% of the worldwide provide.
(By Roshan Thomas; Enhancing by Mohammed Safi Shamsi and Subhranshu Sahu)