Tronox Shares Jump Over 32% On Financing Support For Rare Earth Expansion

(RTTNews) - Tronox Holdings plc (TROX) shares surged 32.13 percent to $4.95 on Tuesday, rising $1.2050, after announcing it received coordinated non-binding and conditional Letters of Support from Export Finance Australia and the U.S. Export-Import Bank.

TROX is trading at $4.9550 after opening at $4.6500, with shares moving between $4.3000 and $5.2500 so far today on the New York Stock Exchange. Trading volume has surged to 22,427,456 shares, far above the average of 4,018,239.

The stock's 52-week range is $2.8600 to $11.9300, with today's rally pushing it firmly toward the upper half of its yearly trading band.

The letters detail options for financing that could be up to $600 million, aimed at boosting Tronox's rare earth supply chain projects. This includes extending mines, developing infrastructure, and enhancing cracking and leaching capacities.