Pathfinder Tonopah, a private entity, has announced the receipt of a non-binding indicative letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for $896m to advance the development of its copper and molybdenum mine in Tonopah, Nevada.
EXIM Bank’s support is part of its Make More in America initiative and aligns with the China and Transformational Exports Program, which aims to reduce US reliance on inconsistent supply chains by financing critical minerals production.
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The potential funding from EXIM Bank is set to advance the revitalisation of a historic brownfield site, establishing Pathfinder Tonopah as a significant domestic supplier of critical minerals, which are vital for national security, energy dominance and advanced manufacturing sectors.
The mine, situated primarily on private land, benefits from existing infrastructure and is expected to produce high-grade copper and molybdenum concentrate. Recent explorations have also indicated considerable silver potential.
Pathfinder Tonopah’s integrated mine plan combines historically mined supergene copper and hypogene molybdenum resources.
A 2023 drilling campaign successfully converted historic waste into ore, further enhancing the project’s prospects.
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By GlobalDataPathfinder Tonopah CEO Brianna Hanson said: “We are thrilled to receive this letter of interest from EXIM, a powerful validation of Pathfinder Tonopah’s mission to secure a domestic supply of critical minerals.
“This potential financing would enable us to scale our operations, delivering copper and molybdenum to meet America’s growing needs while strengthening national security and economic resilience.”
The proposed EXIM financing would facilitate the construction of a modern mining and processing facility, which would employ flotation and leaching methods to yield copper cathode and molybdenum concentrate, with the possibility of producing even higher-value molybdenum products.
This initiative underscores Pathfinder Tonopah’s strategic importance in mitigating US dependency on unreliable critical minerals supply chains, a concern addressed by the March 2025 Executive Order aimed at expediting domestic mineral production.
