The Export-Import Bank of the United States approves US$15.8 Million Financing for ESM to Advance Zinc and Critical Minerals Production in New York
VANCOUVER, British Columbia, June 19, 2025 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI, OTCQB:TIMCF) ("Titan" or the "Company") is pleased to announce that the Export-Import Bank of the United States ("EXIM") has approved a US$15.8 million financing for its wholly owned subsidiary, Empire State Mines LLC ("ESM"), to fund critical capital development in support of expanding zinc production and advancing ESM's critical minerals portfolio in St. Lawrence County, New York.
This marks EXIM's first direct mining transaction under the Make More in America Initiative ("MMIA"), a landmark federal initiative aimed at reshoring industrial capacity, securing U.S. supply chains for critical materials and expanding the domestic manufacturing base.
Highlights:
EXIM's first mining loan under MMIA, signaling federal recognition of Titan's role in restoring domestic mineral production
First step in a strategic financing partnership as Titan develops the first integrated natural flake graphite operations in the United States since 1956
Long-term, fixed-rate financing (7-year tenor, 2-year interest-only grace period) to support zinc expansion, whilst ESM is focused on graphite facility build-out
Funds will be used for capital equipment and infrastructure upgrades to support existing and future operations at ESM
Cash-generative zinc operations at ESM will help de-leverage existing facilities, reduce cost of capital, while enabling early investment into graphite
Job creation and retention commitments: 135 jobs retained, and 10 new positions targeted under EXIM requirements
Efficient balance sheet structuring with Titan retaining flexibility for future growth and financings
Don Taylor, CEO of Titan commented: "This financing marks a major step forward for Titan and the Empire State Mine. It enables us to further expand zinc production, accelerate our graphite development, and importantly, retain 135+ high-quality jobs in upstate New York while creating new skilled positions as we grow. EXIM's support reflects the strategic importance of our assets and validates our long-term vision."
Rita Adiani, President of Titan commented: "This is a foundational milestone—not just for Titan, but for U.S. mineral policy. With this EXIM facility, we're building a secure, transparent ...
