Critical Metals Corp has received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $120 million to fund the company's Tanbreez rare earths mine in Greenland, in what would be the Trump administration's first overseas investment in a mining project.

Critical Metals (NASDAQ:CRML) +30.1% in Monday's trading after saying it received a letter of interest from the Export-Import Bank of the United States for a funding package of as much as $120M to be used to develop the Tanbreez rare earths mining project in Greenland,

Import Bank is considering providing up to $120 million for a rare earths project by Critical Metals Corp. in Greenland, Reuters reported Sunday, citing a letter of interest.If approved, the loan would mark the first overseas investment in a mining project under the Trump administration and help ease US reliance on China for critical minerals,