Titan may get $120m federal financing for New York graphite project
Titan Mining said on Tuesday it got a letter of interest from the US Export-Import Bank for funding of about $120-million for its planned graphite mine in New York, as the country looks to boost domestic supply of critical minerals.
Shares of the zinc producer listed in Canada rose nearly 20% in afternoon trade.
In March, US President Donald Trump invoked emergency powers to accelerate domestic production of critical minerals such as aluminum, cobalt, lithium, graphite, neodymium and dysprosium.
The executive order directed federal agencies, including EXIM, to expedite permitting, funding and supply agreements for the minerals.
EXIM issued the letter of interest after recognizing the Kilbourne Graphite Project in St. Lawrence County, New York, as a strategic US critical-minerals asset. The letter is non-binding and does not represent a financing commitment.
The potential financing, the repayment of which will be done over the next 12 years, will support Titan's planned 40 000-tonne-per-year commercial natural flake graphite mine.
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation