What is the story about?
What's Happening?
Titan Mining Corporation has announced that the Export-Import Bank of the United States (EXIM) is interested in providing up to $120 million in financing for its Kilbourne Graphite Project in St. Lawrence County, New York. This initiative is part of the Make More in America (MMIA) program, aimed at incentivizing domestic production and securing resilient supply chains for critical minerals. The financing would support the construction of a 40,000-tonne-per-annum commercial natural flake graphite facility near Titan's Empire State Mines zinc complex. The project aligns with national priorities to create quality US jobs and strengthen supply chain resilience.
Why It's Important?
The potential financing from EXIM is crucial for Titan Mining as it seeks to expand its operations and position itself as a leading fully integrated natural flake graphite producer in the United States. The project is expected to create high-quality jobs and enhance the country's critical-mineral supply chains, contributing to national economic growth and competitiveness. By leveraging federal support and Titan's strong cash flow from its zinc operations, the company aims to establish a capital-efficient financing structure that benefits shareholders and aligns with US strategic interests.
What's Next?
Titan Mining will continue to work with EXIM's MMIA team to advance due diligence and structure a definitive financing package for the Kilbourne Project. The company plans to leverage the indicative terms of the potential direct loan, which includes a repayment period of approximately 12 years, to support the project's development. As Titan progresses with the financing process, it will focus on securing final board approval and meeting environmental and policy review requirements.
Beyond the Headlines
The initiative underscores the importance of strategic partnerships between private companies and government agencies in advancing critical infrastructure projects. It highlights the role of federal programs in supporting domestic manufacturing and enhancing US competitiveness in the global market. The project may also influence policy discussions on critical-mineral supply chains and job creation, potentially shaping future government initiatives in these areas.
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