Pathfinder Tonopah Secures $896mn EXIM Loan Interest for Copper Project in Nevada

Copper Project in Nevada

Financing to Boost US Copper Supply Chain

US mine developer Pathfinder Tonopah has received a letter of interest from the US Export-Import (EXIM) Bank for up to $896 million in financing to advance its Nevada copper-molybdenum project. The potential funding would support construction of mining and processing facilities, enabling the company to scale operations and strengthen domestic copper production capacity.

The project is expected to produce over 463 million pounds of copper cathode in its first 12 years of operation. This substantial output aligns with growing US demand for copper, driven by renewable energy expansion, electric vehicle infrastructure, and grid modernization.

Strategic Role in National Security and Supply Resilience

The potential loan falls under EXIM’s “Make More in America” initiative, which aims to fortify domestic supply chains for sectors critical to national security. Copper’s role as an essential industrial metal in electrical systems, defense technologies, and clean energy makes it a strategic focus.

Pathfinder Tonopah joins a growing list of critical mineral developers receiving EXIM support, including Ivanhoe Electric ($825mn loan in April 2024) and US Strategic Metals ($400mn loan in August 2024). These investments reflect a broader policy shift toward securing reliable domestic sources of key industrial inputs.

Outlook for Nevada’s Copper-Molybdenum Development

While specific loan terms have not been disclosed, the scale of potential financing underscores the project’s significance for US resource independence. Nevada’s favorable mining environment and existing infrastructure position Pathfinder Tonopah to fast-track development once funding is secured.

If completed as planned, the mine could not only meet domestic copper needs but also contribute to global market stability, reducing reliance on imports from politically sensitive regions.

The Metalnomist Commentary

The scale of EXIM’s interest signals strong federal commitment to reshoring critical mineral supply chains. If finalized, this financing could mark a pivotal moment for US copper independence, positioning Nevada as a strategic hub in the energy transition.