Sept 24 (Reuters) - The United States has backed an

Australian lithium and a rare earths project with up to $786

million in debt funding as Western countries seek to build

supply chains for critical minerals.

Australia's American Rare Earths ( ARRNF ) said on Tuesday it

had received a letter of interest for a debt funding package of

up to $456 million from the Export-Import Bank of the United

States (EXIM) to support construction of the Cowboy State Mine

area at its Halleck Creek Project in Wyoming.

"We are hopeful that it will serve as an anchor to help

attract private funding into the project," said Melissa

Sanderson, a member of the company's board of directors.

The bank has also offered $330 million to finance the

construction of Anson Resources' ( ANSNF ) lithium production

plant in the Paradox Basin, Utah, the Australian company said on

Tuesday.

Earlier this year, the bank backed two Australia-listed

listed rare earths projects by Australian Strategic Materials ( ASMMF )

and Meteoric Resources with up to $850 million

of funding.

The United States and Australia established a critical

minerals taskforce last year as Australia seeks to attract

investment in minerals processing from allied countries, aiming

to reduce reliance on China, which currently controls more than

80% of the global supply.

(Reporting by Roshan Thomas in Bengaluru; Editing by Mohammed

Safi Shamsi and Subhranshu Sahu)