28 aug 25   tungsten west plc - loi from export-import bank of the united states tungsten west plc | tun | 9.0 0 0.0% | mkt cap: 17.0m    rns number : 9418w tungsten west plc 28 august 2025   28 august 2025 tungsten west plc ("tungsten west", the "company" or the "group")   letter of interest from export-import bank of the united states   tungsten west (lon:tun), the mining company focused on restarting production at the hemerdon tungsten and tin mine ("hemerdon" or the "project") in devon, uk, is pleased to announce it has received a non-binding letter of interest ("loi") from the export-import bank of the united states ("exim"), the official export credit agency of the u.s., outlining its capacity to provide financial support to the company and project.   under the exim's new supply chain resilience initiative ("scri"), exim is able to consider financing up to us$95 million for a maximum repayment term of 15 years. the anticipated financing would not be tied to specific equipment purchases, and is predicated upon the project's offtake agreement with u.s. buyers.   the contemplated funding package would form a significant part of the debt financing required to bring hemerdon back into production.   according to the loi,  the scri aims to help secure supply chains of critical minerals for u.s. businesses, helping them better compete in the global marketplace. exim has also identified the project's potential tie in with its china and transformational exports program ("ctep"), which directs exim to take steps to mitigate the competitive impact of export support provided by the people's republic of china and other covered countries, and to advance the comparative leadership of the united states in key export areas. in line with these initiatives, hemerdon is a candidate for financing predicated upon its offtake sales of material to u.s. buyers.   the loi does not represent a financing commitment to tungsten west, it indicates that exim would be able to consider funding of up to us$95 million for the project.       to find out more about exim and its scri and ctep initiatives, click here: https://www.exim.gov/   jeff court, ceo of tungsten west, commented: "the letter of interest from exim underlines hemerdon's global critical minerals supply credentials and is reflective of its extensive potential. the project is poised to produce approximately 20% of global supply of primary tungsten from outside china, representing a strong opportunity to establish supply chain security in the many sectors that are reliant on tungsten.   "whilst there are no assurances that this loi will result in a financing commitment, it is a strong display of confidence in our investment case as we proceed with various funding discussions. i'd like to thank exim for their positive engagement to date, and i look forward to updating shareholders with progress on these conversations."   ends   for further information, please contact:   enquiries tungsten west alistair stobie tel: +44 (0) 1752 278500   strand hanson (nominated adviser and financial adviser) james spinney / james dance / abigail wennington tel: +44 (0) 207 409 3494 blytheray (financial pr) tim blythe / megan ray tel: +44(0) 20 7138 3204 email:  tungstenwest@blytheray.com   hannam & partners (broker) andrew chubb / matt hasson / jay ashfield tel: +44 (0)20 7907 8500    follow us on x @tungstenwest   this information is provided by rns, the news service of the london stock exchange. rns is approved by the financial conduct authority to act as a primary information provider in the united kingdom. terms and conditions relating to the use and distribution of this information may apply. for further information, please contact rns@lseg.com or visit www.rns.com.  rns may use your ip address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. for further information about how rns and the london stock exchange use the personal data you provide us, please see our privacy policy.   end   mscqdlflevlzbbf return to news summary

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