NexMetals Secures U.S. EXIM Bank Interest in $150M Funding for Botswana Critical Metals Projects
Exploration and development company NexMetals Mining has announced it has received a non-binding letter of interest from the Export-Import Bank of the United States (EXIM) for potential financing of up to $150 million to support the redevelopment of two critical metals projects in Botswana.
The financing could fund the restart of NexMetals’ Selebi and Selkirk projects, which host nickel, copper, cobalt, and platinum group metals (PGMs).
These assets are former producers and key to the company’s growth strategy. The proposed funding would carry a tenor of up to 15 years, according to a statement by the Vancouver-based company.
In addition, EXIM indicated that related procurement of U.S. goods and services may be eligible for support under the China and Transformational Exports Program, authorized by Section 402 of EXIM’s 2019 reauthorization. .
The program is aimed at strengthening the United States’ position in strategic sectors, including critical minerals.
“This represents a willingness from the United States to fund critical metals projects in one of Africa’s safest and most stable jurisdictions,” said NexMetals CEO Morgan Lekstrom.
“It clearly reflects the U.S. government’s growing interest in Botswana—recognizing both its rich mineral endowment and the scale of our high-grade projects.”
NexMetals emphasized that the letter of interest is not a financing commitment. Any potential funding remains subject to further application, due diligence, and formal approval by EXIM’s board.
The Selebi and Selkirk projects, once active mines, are central to NexMetals’ plans to become a key supplier of critical minerals for the global energy transition.
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