Northwire Canada EditionThursday, August 27, 2026
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Financings

Troilus Announces Finnvera LOI for Up to Approximately US$132 Million in Potential Export Credit Support Related to Metso Equipment Procurement

By The Northwire Desk — AI Analysis Aug 27, 2026 · 07:00 TLG · 2.31 Troilus Mining Corp.
TLG · Price

Troilus Mining Corp. (TLG) announced it has received a non-binding Letter of Interest (LOI) from Finnvera plc, Finland’s official export credit agency, to support financing for the procurement of Metso Corporation equipment for the Troilus Project. The LOI relates to an estimated US$155 million export transaction, with Finnvera potentially supporting up to 85% of eligible goods and services, representing approximately US$132 million in financing. This support complements Troilus’ broader US$1.2 billion senior secured project financing mandate led by Société Générale, KfW IPEX-Bank, and Export Development Canada, further diversifying the company's international financing framework as it advances toward construction.

The financing structure would be provided by an eligible commercial bank with Finnvera support. The LOI is non-binding and subject to customary due diligence and final approvals. This development follows the announcement on August 25, 2026, regarding the first phase of major process equipment procurement for the Troilus Project from Finland-based Metso Corporation. The scope of equipment includes gyratory and cone crushers, apron and belt feeders, wet and dry screens, High Pressure Grinding Rolls (HPGRs), and ball mills. Metso has been integrated into the Detailed Engineering program, with technical workshops currently underway for equipment interfaces, plant layout, 3D modelling, and construction planning.

Troilus is advancing a senior secured project financing mandate of up to US$1.2 billion, with mandated lead arrangers including Société Générale, KfW IPEX-Bank, and Export Development Canada. Additional support is being sought from leading Canadian and European export credit agencies, including Finnvera. The Troilus Project is located in north-central Québec, Canada, within the Frôtet-Evans Greenstone Belt, on a land position of 435 km². A feasibility study completed in May 2024 supports a 22-year, 50ktpd open-pit mining operation.

Justin Reid, CEO and Director of Troilus, stated: “The Finnvera LOI adds a positive dimension to the Metso procurement and represents an important advancement in our broader project financing strategy. The potential for up to approximately US$132 million in export credit support provides another attractive financing avenue as we continue advancing Troilus toward construction. Finnvera is already participating in our broader project financing process, and we are very pleased to see the potential scope of that relationship expand alongside our advancing procurement program. This demonstrates how our procurement and financing strategies are increasingly working together and further strengthens the diversified international financing framework we are building for Troilus.”

Read the original news release →

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