Troilus Gold’s Quebec Project Gains Momentum with Aurubis Offtake Deal
Troilus Gold has finalized indicative offtake terms with Aurubis for copper-gold concentrate from the Troilus Project in Quebec. This marks a major step toward mine construction. The agreement outlines concentrate specifications, refining charges, and penalties for harmful elements—none of which are currently expected. Troilus aims to produce 135.4 million pounds of copper equivalent annually, including copper, gold, and silver.
The offtake deal boosts Troilus Gold’s ability to complete a planned debt financing package of up to $700 million. Structured by a syndicate including Société Générale, KfW IPEX-Bank, and Export Development Canada, the financing could include up to $500 million in support from Euler Hermes. This would strengthen German-Canadian industrial ties and secure Europe-focused market integration.
According to CEO Justin Reid, the agreement validates the technical strength and economic potential of the Troilus Mine. He highlighted the project’s quality concentrate and strategic location. Meanwhile, Aurubis COO Tim Kurth emphasized the deal’s importance for supply chain diversification and long-term stability in the raw materials market.
Troilus Mine Set to Become a Top Canadian Gold Producer
The Troilus Project stands on a site that once operated as the Troilus Mine until 2010, having produced two million ounces of gold and nearly 70,000 tonnes of copper. Since Troilus Gold acquired the site in 2017, mineral resources have surged. Indicated gold equivalent resources increased 447% to 11.21 million ounces, while inferred resources grew by 157% to 1.80 million ounces.
A 2024 feasibility study projects Troilus could average 303,000 ounces of gold equivalent production annually for 22 years. This would place it among Canada’s top gold producers. The project already benefits from $500 million worth of existing infrastructure, including roads, power, water treatment, and a permitted tailings facility. These assets lower development risk and enhance the site’s construction readiness.
Aurubis’ involvement reinforces market confidence in the concentrate quality and the mine’s long-term commercial viability. As the Troilus Project moves toward development, it positions itself as a cornerstone of both Canadian mining and European raw materials supply security.
SuperMetalPrice Commentary:
The offtake agreement between Troilus Gold and Aurubis showcases the growing importance of diversified supply chains in battery and industrial metals. With significant backing from European and Canadian financial institutions, Troilus has secured more than just a commercial deal—it has earned geopolitical relevance. The high-grade copper-gold-silver concentrate aligns with Aurubis’ feed strategy and European decarbonization needs. As the mine approaches production, it could play a key role in North America’s contribution to global clean energy supply chains. Investors should watch for the final financing close and early construction activity in late 2024 or early 2025.
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