US EXIM Bank Releases Term Sheet to Provide $450M for RZ Resources Titanium Project
On the margins of #IPEM2026, US EXIM Bank and Export Finance Australia formalized a financing agreement with Australia’s RZ Resources for its #titanium mine project in Copi on the Murray Basin mineral sands belt in New South Wales.
On 14 March 2026, Australian Minister of Resources, Madeleine King, and US EXIM Bank Chair, John Jovanovic, witnessed the signing between RZ Resources Executive Chair, David Fraser, and US EXIM Bank Global Head of Origination, Sarah Witten. The Term Sheet follows the Letter of Interest received by RZ Resources from the US EXIM Bank and Export Finance Australia back in October 2025
Under the Joint Financing Mechanism, RZ Resources will receive up to USD 450 million to develop its Copi Minerals Sands Project to monetize turile, ilmenite and leucoxene. The site is also known to contain #RareEarths deposits in the form of zircon, monazite, and xenotime. The Copi Project also includes a Mineral Separation Plant in Brisbane.
“This support reflects the deep strategic partnerships that are driving the development of the Copi Project, including our Mineral Separation Plant. This term sheet demonstrates the strategic importance of these projects to global critical mineral and rare earth supply, and we are grateful for the support of the Australian Government, EXIM and our Japanese strategic partners, JX Advanced Metals and Marubeni Corporation.”
RZ Resources Executive Chair David Fraser
Marubeni has initially invested AUD 15 million with an equity option up to 5% in order to secure long-term offtake and marketing rights. Similarly, JX Advanced Metals is injecting AUD 20 million to ensure a reliable supply of #CriticalMinerals.
The Copi Mine has a lifetime of 57 years and is considered as one of the largest mineral sands deposits in the world. The Project has an annual production of 413,000 tonnes of finished products, including titanium feedstock, zircon and other critical minerals. Production is expected to start by 2028 and the processing plant will also be ready by then.
The deal is presented as a flagship #Quad partnership project, involving US, Australia, Japan, and India. It is a combined effort to reduce dependencies on China. Titanium is important for aerospace applications, both civil and military.