March 25 (Reuters) - Rare Element Resources ( REEMF )

said on Tuesday the U.S. Export-Import Bank has expressed

willingness to provide a loan of up to $553 million for its rare

earths Bear Lodge Project in northeast Wyoming.

WHY IS IT IMPORTANT

Earlier this month, U.S. President Donald Trump invoked

emergency powers to boost domestic production of critical

minerals as part of a broad effort to offset China's near-total

control of the sector.

The executive order directed federal agencies, including

EXIM, to unlock permitting, funding and offtake agreements for

critical minerals, including rare earths.

The move is the latest by Trump to increase U.S. energy and

minerals production and comes against the backdrop of an

escalating trade conflict with China, Canada and other large

minerals producers that supply American manufacturers.

CONTEXT

Bear Lodge contains many critical rare earths that are

essential for high-strength permanent magnets, electronics,

fiber optics, defense, as well as technologies like electric

vehicles, solar panels, and wind turbines.

BY THE NUMBERS

The company has said operations at the demonstration plant

are expected to commence in mid-2025 and operate for up to 10

months and produce up to 10 tons of Nd/Pr oxide, a material used

in the production of permanent magnets. The start will support

discussions with potential partners and customers, it has said.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj

Kalluvila)