Australia's Northern Minerals rises on US-Australia-backed funding intent
21/10/2025 01:51
** Shares of Australia's Northern Minerals NTU.AX rise as much as 18.5% to A$0.064, marking their biggest intraday pct gain since October 14 ** Critical minerals producer receives coordinated letter of intent from U.S. EXIM and letter of support from Export Finance Australia (EFA) for potential debt funding to support the development of co's Browns Range heavy rare earths project in Western Australia ** Under the agreement, EXIM would consider financing up to $230 million in cooperation with EFA, beyond which funds can be sought from EFA or the Northern Australia Infrastructure Facility ** Funding under Monday's agreement between Australia and the U.S. to invest at least $1 billion each over the next six months in critical minerals mining projects ** YTD, stock up 181% (Reporting by Shruti Agarwal in Bengaluru) ((Shruti.Agarwal@thomsonreuters.com))
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