The Financial Post reports in its Wednesday edition that the German government is in talks with Canada's Troilus Mining to finance investment in a large mining project, helping secure copper supplies that are key to the energy transition. A Bloomberg dispatch to the Post says the money will come from Germany's new raw materials fund, which allows a capital injection of as much as 150 million euros per project. Copper demand has been soaring on broader optimism around the global energy transition and concerns about future supply disruptions due to mining outages. The metal has benefited from governments worldwide pushing for more green infrastructure, since it as a key input for electric vehicles, grid upgrades and renewable power. Montreal-based Troilus plans to revive a gold mine in north-central Quebec, which will also produce copper as a byproduct. Germany's raw materials fund is a key tool to secure supplies of such critical inputs and is administered by development bank KFW. Troilus closed Tuesday at $1.67, up two cents on the Toronto Stock Exchange.
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