Sunshine Silver closes $75m financing to develop US critical minerals hub

Financing and Project Development - Sunshine Silver Mining & Refining has closed a $75 million equity financing round, enabling the company to pursue large-scale production without incurring debt [1] - The proceeds from this financing will accelerate the project's next phase of development, with production targeted for 2028 [4] Project Overview - The Sunshine project is set to be the only fully integrated, permitted, and infrastructure-ready operation in the US for producing and processing silver, antimony, copper, gallium, and germanium [2] - The project is expected to boost annual silver output in the US by more than 20% in its first five years [2] Strategic Positioning - Sunshine Silver is uniquely positioned to become a major US hub for critical minerals mining and processing, with over $600 million in existing infrastructure and approximately $250 million invested in exploration and development since Electrum's acquisition [3] - 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 [3] Refinery Capabilities - The refinery component of the Sunshine project is authorized to process multiple critical minerals and will also be capable of processing third-party concentrates [4] - Projections indicate that by 2028, the refinery could meet around 40% of the US' annual antimony demand, potentially increasing to 80% by 2031 [5] Collaboration and Supply Chain - Sunshine Silver has signed a memorandum of understanding with Perpetua Resources to evaluate processing antimony from Perpetua's Stibnite project at the Sunshine Mine Complex, aimed at bolstering the US antimony supply chain amidst trade tensions with China [6]