Titan gets EXIM funding interest for up to $120M (U.S.)

Executive Summary

• The U.S. Export‑Import Bank (EXIM) issued a non‑binding letter of interest for up to US$120 million to finance Titan Mining Corp.’s Kilbourne graphite project in New York.
• The proposed loan would be a direct loan with an approximate 12‑year tenor, including an interest‑only period and pricing tied to the Commercial Interest Reference Rate (≈5%).
• If finalized, the financing could cover a substantial portion of the capital required for constructing a 40,000 t/yr natural flake graphite facility, supporting Titan’s strategy to become the first fully integrated U.S. producer of natural flake graphite.

Key Details

• Financing source: Export‑Import Bank of the United States (EXIM) under its Make More in America (MMIA) initiative.
• Amount: Up to US$120 million (potentially a large share of total project capital).
• Loan structure: Direct loan, ~12‑year repayment term, interest‑only period, rate linked to CIRR (~5%).
• Project funded: Construction of the Kilbourne graphite plant (40,000 t/yr capacity) adjacent to Titan’s Empire State zinc complex in St. Lawrence County, NY.
• Current status: Letter of interest is non‑binding; final commitment pending due diligence, environmental and policy reviews, and board approval.
• Strategic relevance: Kilbourne identified as a critical U.S. mineral asset; financing aligns with federal goals for domestic supply‑chain resilience and job creation.
• Company context: Titan leverages cash flow from its zinc operations; previously secured EXIM support for zinc expansion.

Notable Quotes

“We are proud to expand our partnership with EXIM as we advance the Kilbourne graphite project — an asset that will create high‑quality U.S. jobs, strengthen critical mineral supply chains and position Titan as the leading fully integrated natural flake graphite producer in the United States.” – Rita Adiani, President & CEO, Titan Mining Corp.