Tronox Holdings, the world’s leading titanium dioxide pigment manufacturer, has announced it has received coordinated, non-binding Letters of Support from Export Finance Australia (EFA) and the U.S. Export-Import Bank (EXIM) for up to $600 million in limited or non-recourse financing.
The funding is aimed at expanding Tronox’s rare earth supply chain, including mine extensions, infrastructure, and cracking and leaching capacity.
The Letters are part of the United States–Australia Framework for Securing Supply in the Mining and Processing of Critical Minerals and Rare Earths, announced in October. They signal both agencies’ interest in partnering with Tronox to leverage its existing mining and processing capabilities to build a domestic rare earth elements supply chain.
Tronox has completed a pre-feasibility study and is moving toward a definitive feasibility study for a proposed cracking and leaching facility in Western Australia. The facility would produce a mixed rare earth carbonate, covering both light and heavy rare earths. Tronox plans to work with downstream customers and business partners to develop a financeable project structure aligned with its long-term capital priorities.
“This announcement represents a significant milestone in advancing the expansion of Tronox’s minerals processing operations to produce rare earth elements for customers that are critical to permanent magnet, defense, energy, and advanced technology industries,” said Tronox CEO John D. Romano.
“While Tronox currently mines and sells tailings materials containing rare earth elements, the Letters from EFA and EXIM highlight the opportunity for Tronox to assume a leading role as a supplier of rare earth elements to support the critical mineral strategies of Australia and the United States. We appreciate the support of EFA, EXIM Bank, and the Governments of Australia and the United States in this next phase of our rare earths journey.”
EFA CEO John Hopkins added, “EFA is pleased to provide a non-binding and conditional Letter of Support for this project, which aligns with our mandate to support the development of Australia’s critical minerals sector. This support is part of our engagement with our counterparts at EXIM under the Single Point of Entry framework and United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths. We look forward to continuing discussions as the project progresses.”
