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US Strategic Metals has been tapped by the Export-Import Bank of the United States for a loan package worth $400 million with a term of 15 years to support the development of its mining and metallurgical project in Missouri.
The company also plans to mine what it considers to be the largest cobalt reserve in North America. It holds an 18-year mineral supply of cobalt on a 7.3-square-kilometre site, known as the Madison mine project. In 2020, the geologic and block models were updated to survey mine reserves, including a pre-feasibility study on a well-drilled resource that is estimated to hold 72 million lb. of recoverable cobalt, 105 million lb. of nickel and 103 million lb. of copper.
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