Latest news with #PathfinderTonopah
Bloomberg
4 days ago
- Business
- Bloomberg
Nevada Copper Project Draws $896 Million US Financing Interest
A Nevada mining project has attracted the attention of the Export-Import Bank of the United States, which is showing interest in offering $896 million to support a company seeking to build a copper and molybdenum mine. Pathfinder Tonopah, a closely held Nevada-based mining company, said on Tuesday it had received the non-binding indicative letter of interest from Ex-Im, the official export credit agency of the US. The company said the financing would support the construction of a mining and processing facility to produce copper cathode, molybdenum concentrate and other products on the Tonopah, Nevada, site, which has existing infrastructure, including water rights, power connections, and paved road access.
Associated Press
4 days ago
- Business
- Associated Press
Pathfinder Tonopah Receives Letter of Interest From U.S. EXIM Bank for $896 Million Financing to Advance Domestic Copper Mine
TONOPAH, NV / ACCESS Newswire / June 10, 2025 / Pathfinder Tonopah, a private company, is pleased to announce that it has received a non-binding indicative Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for $896 million to support the development of its copper and molybdenum mine in Tonopah, Nevada. This potential source of funding would accelerate the revitalization of a historic brownfield site, positioning Pathfinder Tonopah as a leading domestic supplier of critical minerals essential for national security, energy dominance, and advanced manufacturing. The EXIM LOI aligns with the Bank's Make More in America initiative and China and Transformational Exports Program, which prioritize financing for both domestic and foreign critical minerals production to reduce U.S. reliance on unreliable supply chains. Pathfinder Tonopah's mine, located primarily on private land with existing infrastructure, is poised to deliver high-grade copper, and molybdenum concentrate. 'We are thrilled to receive this Letter of Interest from EXIM, a powerful validation of Pathfinder Tonopah's mission to secure a domestic supply of critical minerals,' said Brianna Hanson, CEO of Pathfinder Tonopah. 'This potential financing would enable us to scale our operations, delivering copper and molybdenum to meet America's growing needs while strengthening national security and economic resilience.' Pathfinder Tonopah's mine integrates historically mined supergene copper and hypogene molybdenum resources into a single, efficient mine plan, with recent exploration identifying significant silver potential. The project benefits from a 2023 drill campaign that converted historic waste to ore, and has existing infrastructure, including water rights, power connections, and paved road access. The company's commitment to environmental excellence was recognized with the 2023 Nevada Excellence in Mine Reclamation Award for legacy remediation efforts. The potential EXIM financing would support the construction of a state-of-the-art mining and processing facility, utilizing flotation and leaching methods to produce copper cathode, molybdenum concentrate, and potentially higher-value molybdenum products. This LOI underscores Pathfinder Tonopah's strategic role in addressing U.S. reliance on unreliable critical minerals supply chains, as highlighted by the March 2025 Executive Order to accelerate domestic mineral production. By combining innovative technologies, a multi-generational resource open on three sides and at depth, and a proven management team, Pathfinder Tonopah is well-positioned to lead the sustainable advancement of critical minerals production. For more information, visit or email [email protected] Contact Information Brianna Hanson President & CEO, Pathfinder Tonopah 541-297-9189 SOURCE: Pathfinder Tonopah press release
