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(Bloomberg) — The US Export-Import Bank advanced plans for up to $4.2 billion in financing to support Japanese and South Korean nuclear operators’ purchase of enriched fuel from California-based General Matter.
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The Ex-Im Bank issued letters of interest supporting the financing — with up to $2.4 billion for Japanese nuclear operators and as much as $1.8 billion for those in Korea — during the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo.
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Those letters came on top of bank backing for other enterprises that was rolled out during the summit, including for Delfin Midstream Inc., the developer of a liquefied natural gas export project off the Louisiana coast as well as critical metals extraction and refining projects.
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John Jovanovic, chairman of the Ex-Im Bank, said the transactions will help support industries “that are central to America’s long-term economic and strategic strength,” while supporting the development of secure, reliable supply chains across the Indo-Pacific region.
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“These collaborations strengthen economic ties while ensuring that key resources and technologies are developed and supplied by partners who share our values and strategic interests,” Jovanovic said as he unveiled several agreements Sunday.
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General Matter is developing uranium enrichment capacity in the US, with the aim of producing low-enriched uranium for the current nuclear reactor fleet as well as high-assay, low-enriched uranium for advanced reactors.
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Ex-Im Bank support also is underpinning a binding 10-year offtake agreement by Trafigura for mixed hydroxide precipitate and lithium carbonate that will be produced by Nth Cycle from a facility in South Carolina.
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According to the Ex-Im Bank, it’s the largest multi-metal commercial agreement reached between a recycled feedstock supplier and a critical mineral refiner.
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