Sunshine Silver Mining & Refining has announced the closure of a $75m equity financing round, marking a significant step towards establishing a US critical minerals hub.
The financing, led by the company’s majority shareholder, Electrum Silver US, will enable Sunshine Silver to pursue large-scale production without incurring debt.
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The company’s Sunshine project is poised to become the only fully integrated, permitted and infrastructure-ready operation in the US for producing and processing silver, antimony, copper, gallium and germanium.
The Sunshine mine has a proven record as a leading silver and antimony producer.
The project is expected to boost annual silver output in the US by more than 20% in its first five years.
The refinery component of the Sunshine project is already authorised to process multiple critical minerals.
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By GlobalDataFurthermore, the project aligns with US Government initiatives to enhance domestic mineral production and supply chain security, as outlined in the Executive Order of 20 March 2025.
Sunshine Silver CEO Heather White said: “With over $600m in existing infrastructure and approximately $250m invested in successful exploration and development since Electrum’s acquisition of the Sunshine project 14 years ago, SSMRC is uniquely positioned to become a major US hub for critical minerals mining and processing.
“In addition to producing its own metals, the project will also be capable of processing third-party concentrates, benefitting from SSMRC’s refining capacity. With production targeted for 2028, the proceeds from this financing round will accelerate the project’s next phase of development.”
Additionally, the company is advancing the only large-scale, permitted antimony refinery in the US.
Projections indicate that by 2028, the refinery could meet around 40% of the US’ annual antimony demand, potentially increasing to 80% by 2031.
Sunshine Silver also holds exclusive technology for processing gallium, germanium and other critical metals.
In December last year, Perpetua Resources announced plans to explore antimony processing opportunities with Sunshine Silver.
The two companies signed a memorandum of understanding to evaluate the potential for processing antimony from Perpetua’s Stibnite project at the Sunshine Mine Complex.
This collaboration is aimed at bolstering the US antimony supply chain amidst trade tensions with China.
