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American Tungsten Receives LOI from U.S. Export-Import Bank (EXIM) for US $25.5 Million to Fund Mining Development and Production
American Tungsten Receives LOI from U.S. Export-Import Bank (EXIM) for US $25.5 Million to Fund Mining Development and Production.
About this update from American Tungsten Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n American Tungsten Receives LOI from U.S. Export-Import Bank (EXIM) for US $25.5 Million to Fund Mining Development and Production\r\n \r\n \r\n\r\n\r\nAmerican Tungsten Receives LOI from U.S. Export-Import Bank (EXIM) for US $25.5 Million to Fund Mining Development and Production\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nVancouver, British Columbia--(Newsfile Corp. - November 6, 2025) - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK90) (\"American Tungsten\" or the \"Company) is pleased to announce that it has received a letter of interest from the US Export-Import Bank (EXIM) for a loan worth up to US$25.5 million, to potentially fund the mining development and milling facilities associated with the Company's IMA Tungsten Mine in Patterson, Idaho. \r\nThe loan, if approved, will help provide access to a domestic source of tungsten in the United States.\r\nTungsten is a vital material for defense applications, with unparalleled hardness and high-temperature resistance, making it indispensable for armor-piercing ammunition, missile components, and aerospace manufacturing. The U.S. Department of Defense and the Defense Industrial Base Consortium, of which the Company is an active member of, classifies tungsten as a critical mineral. Currently, the United States remains heavily reliant on imports – primarily from China, which dominates over 80% of the global supply. The recent ban on tungsten exports by China underscores the need to establish a stable, US domiciled supply chain to safeguard national security interests. If approved, this loan initiative would help offset the capital needed to restart production at the Company's IMA Tungsten Mine and help alleviate these domestic supply challenges.\r\nIn a letter dated October 17th, 2025, American Tungsten has met initial requirements to apply for the US$25.5 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the Company would expect with public debt financing.\r\nABOUT EXIM\r\nThe Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.\r\nABOUT AMERICAN TUNGSTEN CORP.\r\nAmerican Tungsten Co...