Tronox surges after securing up to $600M potential financing for rare earth projects
Tronox (TROX) surged 30.9% after receiving conditional support for up to $600M financing from Export Finance Australia and Export-Import Bank of the U.S. for rare earth projects. The financing aims to develop Tronox's rare earth supply chain. The company is progressing to a definitive feasibility study for a facility in Western Australia. CEO John Romano highlighted the opportunity to become a leading supplier of rare earth elements. BMO Capital upgraded Tronox to Market Perform, noting improved risk/reward despite financial challenges.
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