Joint backing from the United States and Australia follows newly concluded critical minerals partnership.
Tronox is eyeing an expansion into the rare earth industry after receiving coordinated, conditional financing support offers from the Export-Import Bank of the United States (EXIM) and Export Finance Australia (EFA). The Stamford, Connecticut–based company is one of the world’s largest producers of titanium dioxide pigment, used widely in paint and coatings, for example. While Tronox already mines monazite-bearing tailings, it has not previously processed the contained rare earth elements at scale.
The prospective financing package, worth up to $600 million, would fund mine extensions, infrastructure upgrades, and construction of a cracking and leaching facility in Western Australia. Tronox recently completed a pre-feasibility study and is now advancing toward a definitive feasibility study for the plant, which is designed to produce mixed rare earth carbonate containing both light and heavy rare earth elements. The company has not yet disclosed whether it intends to refine this intermediate further or market it directly.
Coordinated Push From the United States and Australia
The EXIM–EFA coordination follows the U.S.–Australia critical minerals framework signed in October by U.S. President Donald Trump and Australian Prime Minister Anthony Albanese (we reported). The agreement commits both governments to mobilize more than US$1 billion each within six months to expand mining and processing capacity, supported by guarantees, loans, equity investments, insurance, and accelerated permitting. Two initial projects have already been approved under the partnership: Arafura will receive $100 million for the Nolans rare earth project, and Alcoa will receive $200 million to establish a gallium refinery in Western Australia. Support for Tronox suggests that Western governments are also looking at diversified miners to close gaps in the supply chains of critical minerals.
Photo: iStock/jasonbennee