Troilus Mining, formerly known as Troilus Gold, has signed a long-term offtake arrangement for copper-gold concentrate with Boliden Commercial through a memorandum of understanding (MoU).
This agreement pertains to Troilus Mining’s project in north-central Québec, Canada, marking a progression from the initial commercial terms disclosed in July 2025.
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Boliden is a European entity known for base and precious metals mining and processing across multiple countries.
The MoU with Boliden represents a key element of Troilus’ broader commercial strategy, enhancing the company’s efforts in securing project financing and progressing towards the construction phase.
This development builds on an earlier memorandum of agreement signed with Aurubis in August 2025, which similarly aims to foster stable relationships with major European smelting companies.
These agreements play a critical role in establishing commercial terms for a significant share of the anticipated concentrate production from the Troilus Project.
They are integral to the company’s financial plans, aligning with a prospective senior project debt facility of up to $1bn (C$1.37bn).
The facility is backed by a coalition of international financial institutions and export credit agencies.
According to a feasibility study released by the company in May 2024, the Troilus Project is projected to yield approximately 135.4 million pounds (mlb) of copper equivalent annually.
This output translates to around 75,000 wet tonnes of concentrate containing payable copper, gold and silver.
Ocean Partners USA remains involved as an independent third-party advisor for Troilus’ concentrate offtake strategy, offering technical and market insights.
Additionally, Auramet International continues in its role as project finance advisor, assisting Troilus in structuring an effective financial plan to further advance the project.
Troilus CEO Justin Reid said: “Boliden is a highly respected partner with deep expertise in responsibly processing copper concentrates.
“Advancing our relationship to this stage reflects growing commercial confidence in the quality, scale and strategic importance of our project, and reinforces Québec’s position as a stable, clean-energy jurisdiction for responsible mineral development.”
