Troilus Gold Corp. Forms Offtake Agreement with Aurubis AG for Troilus Project's Copper-Gold Concentrate
- Troilus Gold Corp. secured an offtake agreement with Aurubis AG for copper-gold concentrate from the Troilus Project.
- The partnership enhances Troilus Gold's production goals while focusing on quality and sustainability in operations.
- Troilus Gold is advancing financing plans up to US$700 million, positioning itself for growth in the mining industry.
Troilus Gold Secures Key Offtake Agreement with Aurubis AG for Troilus Project
Troilus Gold Corp. has made a significant advancement in its operational strategy by reaching indicative commercial offtake terms with Aurubis AG, a leading global copper smelter based in Hamburg, Germany. This agreement pertains to the copper-gold concentrate produced from the Troilus Project, located in north-central Quebec, Canada. The partnership is a vital step towards finalizing a binding offtake contract, which is anticipated to coincide with a broader debt financing package of up to US$700 million. The financing initiative, announced on March 13, 2025, is being structured by a syndicate of financial institutions, including Société Générale, KfW IPEX-Bank, and Export Development Canada, potentially augmented by loan guarantees from Euler Hermes.
The Troilus Project is projected to yield an annual average of approximately 135.4 million pounds of copper equivalent, translating to around 75,000 wet metric tonnes of concentrate imbued with copper, gold, and silver. Justin Reid, CEO of Troilus Gold, underscores the importance of this partnership with Aurubis, stating that it not only enhances the project's technical and financial preparedness but also affirms the anticipated quality of the concentrate that will be produced. This collaboration positions Troilus Gold favorably within the market, as the company moves closer to realizing its production goals while maintaining a focus on quality and sustainability.
Tim Kurth, COO of Aurubis, emphasizes the strategic benefits of this partnership, noting that it strengthens their raw material portfolio and bolsters their competitive position in the global market. This collaboration aligns with industry trends favoring responsible sourcing and production practices, as both companies are committed to sustainability and ethical mining operations. The engagement with Ocean Partners USA Inc. further supports Troilus Gold in refining its concentrate offtake strategy, ensuring that the company is equipped with essential market insights necessary for successful operations in the copper and gold sectors.
Alongside the promising offtake agreement, Troilus Gold's commitment to advancing its financing plans reflects a proactive approach to capitalizing on the growing demand for copper and gold, especially as the world shifts towards more sustainable energy solutions. The partnership with Aurubis, coupled with robust financial backing, positions Troilus Gold as a key player in the mining industry, poised for growth and innovation in the coming years.
