Blue Moon Nussir copper project financing advances Nordic supply ambitions

Blue Moon Metals

Blue Moon Nussir copper project financing reaches up to $140mn for construction and ramp-up. The package blends debt, equity, and a streaming deal. Blue Moon Nussir copper project financing supports early works and long-lead procurement. Therefore, the Blue Moon Nussir copper project financing de-risks schedule and execution in northern Norway.

Funding structure, permit status, and near-term milestones

The financing combines a $25mn bridge and a $50mn term loan. It adds a precious metals stream valued at $70mn. Up to $20mn in equity completes the package. The bridge has executed for near-term availability. Oaktree committed $5mn initial equity pending approval. The project is fully permitted in Norway. Early works include engineering and underground development. Long-lead items will be procured immediately to protect schedule.

Strategic designation, resource context, and European supply chains

Nussir holds EU Strategic Project status under the CRMA. The designation signals policy support for European copper supply. Historic work outlined sizable copper resources across multiple domains. Open-pit mining occurred during the 1970s. A 2024 feasibility study summarized resource tonnages and grades. The stream covers 70% gold and 75% silver payable. Step-downs activate after defined delivered volumes. The structure preserves copper price exposure for the owner.

The Metalnomist Commentary

Financing breadth reduces single-source risk but raises offtake complexity. Execution now hinges on underground development, contractor productivity, and Arctic logistics. Watch capex creep, power pricing, and Norway permitting interfaces into first ore.