MEDIA RELEASE: Export Finance Australia and the Export-Import Bank of the United States support for RZ Resources’ critical minerals project
October 21, 2025
EXPORT FINANCE AUSTRALIA AND THE EXPORT-IMPORT BANK OF THE UNITED STATES SUPPORT FOR RZ RESOURCES’ CRITICAL MINERALS PROJECT
The RZ Resources’ Copi Project has received a coordinated non-binding and conditional Letter of Support and Letter of Interest from Export Finance Australia (EFA) and the Export-Import Bank of the United States (EXIM) respectively marking a major financial and strategic milestone on the company’s path to production.
EFA and EXIM’s Letters are an example of the Single Point of Entry (SPE) for critical minerals that the two agencies have established, in action. The SPE streamlines referrals and enables support from both agencies for eligible critical minerals transactions.
EFA and EXIM’s support underscores the importance of projects that strengthen critical mineral security for Australia and partner nations. It also reflects growing international confidence in RZ Resources’ ability to help diversify and secure global supply chains.
The Australian Government is accelerating efforts to build domestic capability in critical minerals (from exploration through to processing and value-adding) supported by targeted financial mechanisms such as EFA. Similar government-backed funding in the U.S. and Japan is also expected to play a key role in ensuring projects like Copi move swiftly into production.
EXIM’s Letter of Interest indicates that EXIM would be able to consider financing of up to US$450 million, in cooperation with EFA under the EXIM–EFA Single Point of Entry.
In addition to the EXIM Letter of Interest announced today, last month, RZ Resources became the first Australian critical minerals company to receive backing from EXIM and the first Australian project of any kind to secure EXIM financing approval in more than a decade (since the Roy Hill project in 2013). This milestone highlights international recognition of RZ’s strategic role in reshaping the critical minerals landscape.
With the combined support of EFA, EXIM, strategic investors, and partners in Australia, Japan (including RZ’s existing partner, JX Advanced Metals Corporation), and the U.S., RZ Resources expects the Copi Project to be fully funded and under construction by the end of 2026, with production targeted for late 2028.
Approximately 85% of RZ’s future production is already under Memorandums of Understanding with commercial partners in the U.S., Japan, Europe, and other markets, providing early validation of demand and market alignment.
EFA’s non-binding and conditional Letter of Support remains subject to further due diligence, including environmental, social, and financial assessments, credit, risk and legal approvals and compliance with applicable laws and regulations. EXIM’s non-binding Letter of Interest signals readiness to consider project financing, subject to further credit, technical, and environmental due diligence.
RZ Resources Executive Chairman David Fraser said:
“EFA’s support is a powerful signal of confidence in our project and in Australia’s role as a reliable critical minerals partner. It reflects the depth of our shared commitment to building sovereign capability, strengthening supply chains, and deepening the partnerships between Australia, Japan, the United States and other allies.”
EFA Managing Director and CEO John Hopkins said:
““This is an example of how EFA and EXIM can work together to support projects of mutual strategic interest. The Single Point of Entry enables joint support for critical minerals supply chains, which are essential to both countries’ energy and manufacturing ambitions”
EXIM’s Chairman John Jovanovic said:
“EXIM’s Letter of Interest to RZ Resources reflects our commitment to advancing projects that strengthen U.S. national security, enhance supply chain resilience, and revitalize domestic manufacturing. By fostering collaboration between American industry and Australian mining initiatives, EXIM is helping deliver on President Trump’s vision to bolster America’s industrial innovation, create high-quality U.S. jobs, and ensure reliable access to the critical minerals that power key American industries and technologies.”
The Copi Project, which includes RZ’s Mineral Separation Plant (the only major facility of its kind on Australia’s east coast) (Brisbane MSP) will position Australia as a key supplier of rare earths, titanium, and zircon to allied nations. These minerals are essential to industries underpinning renewable energy, advanced manufacturing, and national security.
Through these initiatives, RZ Resources and the Copi Project are helping anchor a growing Australia-U.S.-Japan alliance to secure the critical minerals supply chains vital to future industries and global resilience.
About the Copi Project
Located in far southwestern NSW, 75 km northwest of Wentworth, the Copi mine is one of the largest critical minerals deposits in the world. The Copi mine, together with the Brisbane MSP, will produce rare earths (light and heavy), titanium feedstocks (rutile and leucoxene), premium zircon products, and rare earth element concentrate ready for downstream refining.
During operations, the project will contribute a 240-strong workforce and boost local spending by up to $97.63 million annually, while aligning with Australia’s Critical Minerals Strategy 2023-2030 and the NSW Critical Minerals and High-Tech Metals Strategy.
The project’s strategic importance was recently highlighted at the 2025 Quad Leaders’ Summit, where RZ Resources was formally recognized as having a project of “global significance” for its potential to deliver critical minerals from Australia to the US, Japan, and India.
About Export Finance Australia (EFA)
Export Finance Australia (EFA) is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium-sized enterprises to large corporates and infrastructure projects, EFA helps Australian businesses take on the world. In doing so, EFA’s finance supports Australia’s economic security and resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific.
About Export-Import Bank of the United States
Export-Import Bank of the United States (EXIM) is the official export credit agency of the U.S. Government, supporting American jobs by financing the export of U.S. goods and services.
Contacts
Please direct all enquiries to:
Ryan Marnell
rmarnell@phronesis.consulting
+61 434 616 894