Sept 16 (Reuters) - Highland Copper ( HDRSF ) said on

Tuesday it received a non-binding letter from the U.S.

Export-Import Bank (EXIM) for potential $250 million financing

to develop its Copperwood project in Michigan.

The indication of interest, issued under EXIM's "Make More

in America" initiative, could cover a substantial portion of

Copperwood's estimated $400 million capital cost, the company

said.

Copperwood is among the few U.S. copper projects with all

major permits in place and a completed feasibility study, it

added.

Highland said the letter is not a financing commitment.

A formal application, due diligence and approvals would

be required before EXIM could make a final decision. The agency

outlined a potential 11-year repayment term.

In March, U.S. President Donald Trump invoked emergency

powers to accelerate domestic production of critical minerals.

The executive order directed federal agencies, including

EXIM, to expedite permitting, funding and supply agreements for

critical minerals including rare earths.