Titan Mining secured $15.8 million in EXIM Bank funding to expand zinc production and accelerate graphite development at its Empire State Mines in New York. The loan, part of the Make More in America Initiative, supports domestic mineral supply chains. Titan’s stock rose 8%, reaching a 52-week high.
Titan Mining experienced a notable share price surge on Thursday following the approval of a $15.8 million financing package from the Export-Import Bank of the United States (EXIM). The funding will bolster Titan’s expansion and development efforts within its zinc and critical minerals assets in New York State.
Titan Mining, part of the Vancouver-based Augusta Group, owns and operates the Empire State Mines (ESM) in St. Lawrence County. This complex includes one active mine, six historical mines, and a 5,000-tonne-per-day processing facility. In early 2025, the company unveiled an updated mine plan for ESM, seven years after production commenced, boosting expected output by 35% and extending the operation’s life by an additional two years.
The revised plan is underpinned by a substantial increase in zinc resources, including 465 million pounds in the measured and indicated category and more than 1 billion pounds in the inferred category. Titan is also evaluating near-term growth through the development of a new open pit, alongside continued near-mine exploration in several promising zones. These exploration targets are estimated to contain 5 to 5.5 million tonnes of material, grading between 10–14% zinc, offering further potential to enhance the mine’s lifespan and production capabilities.
Alongside its zinc ambitions, Titan is advancing the Kilbourne graphite deposit, discovered by ESM in 2023. The deposit currently hosts an inferred resource of 22 million tonnes grading 2.91% graphitic carbon, equating to approximately 653,000 tonnes of contained graphite. This positions Kilbourne as a strategic asset amid rising demand for graphite in energy storage and Electric Vehicle sectors.
Titan’s CEO, Don Taylor, emphasized the significance of the EXIM loan, stating it represents a pivotal step for both the company and the broader US mineral strategy. “The financing will enable us to grow zinc production, fast-track graphite development, and preserve over 135 quality jobs in upstate New York,” Taylor noted. Titan President Rita Adiani added, “This funding is a foundational milestone, contributing to a secure and transparent critical mineral supply chain while reinforcing the energy and defense sectors.”
The $15.8 million financing is EXIM’s first direct mining investment under the Make More in America Initiative (MMIA), a key federal effort to strengthen domestic manufacturing, reshore industrial capacity, and fortify US critical material supply chains.
Following the announcement, Titan’s shares hit a 52-week high of C$0.69 before settling at C$0.66, marking an 8% increase. The company’s market capitalization now stands at C$90 million (approximately $65.7 million).
