U.S. Ex-Im Bank Votes to Support $694 Million Loan for Roy Hill
This article is for subscribers only.
The board of the U.S. Export-Import Bank, an independent federal lending agency, gave preliminary approval for $694 million in financing for billionaire Gina Rinehart’s Roy Hill iron ore project in Australia.
The vote by the lender’s board today will support the purchase of mining equipment from U.S. companies including Caterpillar Inc. and General Electric Co., Daniel Reilly, a bank spokesman, said in an e-mailed statement.