Graphinex Secures US $860 Million LOI from the Export-Import Bank of the United States

Today in Washington D.C., the Export-Import Bank of the United States (EXIM) issued a Letter of Interest for up to US $860 million (approximately AUD $1.3 billion) to support Graphinex’s integrated graphite operations spanning Queensland, Australia, and the United States. The facility would finance the company’s upstream mining and concentrator development in Australia, together with downstream refining capacity in the U.S., creating a fully aligned, cross-border graphite supply chain.

The announcement marks a major step forward for Graphinex, where Wattlestone has been a long-term investor. The company’s model connects Australia’s rich critical-minerals endowment with North American manufacturing needs, at a time when both nations are strengthening cooperation under the U.S.–Australia Critical Minerals Framework.

The proposed financing reflects a growing global focus on supply-chain resilience and diversification away from China’s dominant 90%+ control position in graphite and other battery-anode materials. For Australia and Queensland, it represents progress toward building full value-chain capability rather than remaining a raw-material exporter. For the United States, it signals intent to secure strategic inputs essential to the energy transition.

Graphinex’s integrated approach including mining and processing in Queensland through to refining in the U.S, positions it to play a meaningful role in this new landscape. The Letter of Interest from EXIM provides validation of the company’s technical and commercial foundations, and a pathway to accelerate development of both the upstream and downstream assets.

Wattlestone congratulates the Graphinex team on this achievement and looks forward to supporting the next phase of its growth.