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| Titan Mining |
EXIM’s Strategic Support for Domestic Zinc Production and Critical Minerals
The Export-Import Bank of the United States
(EXIM) has approved $15.8 million in financing for Titan Mining Corporation’s
subsidiary, Empire State Mines LLC (ESM), to expand zinc production and
develop critical minerals in St. Lawrence County, New York. This
financing represents EXIM’s first direct mining loan under the Make More in
America Initiative (MMIA), a federal program designed to reshore industrial
capacity and secure U.S. supply chains for critical materials. As a result, the
support reinforces Titan’s role in restoring domestic mineral production,
particularly zinc, which is essential for galvanization and alloy applications
across multiple industries.
Financing Terms and Impact on Zinc and Graphite Operations
The long-term financing features a
seven-year tenor with a two-year interest-only grace period, allowing ESM to
upgrade capital equipment and infrastructure. Consequently, this will support
existing zinc operations while enabling early investment in graphite facility
development, marking the first integrated natural flake graphite operations in
the U.S. since 1956. Moreover, cash-generative zinc production will help ESM
de-leverage existing facilities and reduce the company’s cost of capital. This
balanced financing approach positions Titan Mining to maintain operational
flexibility while expanding critical minerals output to meet rising industrial
demand.
Economic and Employment Benefits in Upstate New York
EXIM’s financing also commits to retaining
135 existing jobs and creating 10 new positions, strengthening the local
workforce in St. Lawrence County. This aligns with federal objectives to
bolster domestic manufacturing and job creation in the minerals sector. Titan’s
leadership emphasized that this partnership is not only a financial milestone
but also a strategic endorsement of U.S. mineral policy aimed at securing
transparent supply chains for energy, defense, and advanced manufacturing
sectors. Meanwhile, the deal signals increased competition with global
producers, particularly China, enhancing U.S. resource independence.
ScrapInsight Commentary
EXIM’s financing reflects a strategic pivot toward bolstering domestic zinc and critical minerals production, addressing supply chain vulnerabilities. This support enhances Titan Mining’s capacity to meet growing industrial demand while promoting job retention in a key U.S. mining region. Going forward, such federal backing is likely to drive further investment and regulatory focus on sustainable, circular economy practices in the metals sector.
