AsianFin -- Critical Metals Corp has secured a letter of interest from the U.S. Export-Import Bank (EXIM) for a potential loan of up to $120 million to support the development of the Tanbreez rare earths project in Greenland.

If approved, the financing would mark the Trump administration’s first overseas investment in a mining venture.

The move underscores Washington’s push to secure critical mineral supply chains and reduce dependence on China, which currently dominates the global rare earths market. The loan proposal also follows U.S. President Donald Trump’s controversial remarks earlier this year about buying Greenland — an idea firmly dismissed by Denmark.