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Mining industry

Troilus Gold Corp. Announces Indicative Offtake Agreement with Boliden

Strategic Insights

— 1 min read

Troilus Gold Corp. has secured an indicative commercial offtake agreement with Boliden Commercial AB for the sale of copper-gold concentrate expected to be produced from the Troilus Project in north-central Quebec, Canada. This agreement marks the second offtake arrangement for Troilus, following a recently announced agreement with Aurubis AG. The Troilus Project, expected to produce an annual average of 135.4 million pounds of copper equivalent, or 75,000 wet metric tonnes of concentrate containing payable copper, gold, and silver, is advancing towards a construction decision.

Key Takeaways:

  • Troilus Gold Corp. has agreed to indicative commercial offtake terms with Boliden Commercial AB for the sale of copper-gold concentrate from the Troilus Project.
  • The agreement marks the second offtake arrangement for Troilus, following a recently announced agreement with Aurubis AG.
  • The Troilus Project is expected to produce an annual average of 135.4 million pounds of copper equivalent, or 75,000 wet metric tonnes of concentrate containing payable copper, gold, and silver.
  • The agreement includes expected specifications for concentrate quality, payabilities on precious metals, treatment and refining charges, and penalties for deleterious elements.
  • Metallurgical testwork conducted to date, along with historical data from the prior operation, indicates that no penalties are anticipated outside the thresholds outlined in the agreement.
  • The indicative offtake terms will be finalized in connection with the completion of the Project's broader US$700 million debt financing package.
  • The agreement aligns with key players in Europe's critical minerals ecosystem and reinforces the high quality of the product Troilus intends to deliver.
  • Justin Reid, CEO of Troilus Gold, stated that the partnership with Boliden legitimizes the quality of Troilus' anticipated concentrate and highlights the Troilus Project's strategic importance within the European critical minerals supply chain.

Statistics:

  • Troilus Project expected to produce an annual average of 135.4 million pounds of copper equivalent.
  • Project to produce 75,000 wet metric tonnes of concentrate containing payable copper, gold, and silver.
  • Indicative offtake terms include expected specifications for concentrate quality, payabilities on precious metals, treatment and refining charges, and penalties for deleterious elements.
  • Funding package expected to be US$700 million.

Sources:

  • "Troilus Gold Corp. Announces Positive Feasibility Study Results" (press release dated May 24, 2024)
  • "Troilus Gold Corp. Announces Agreement with Aurubis AG" (press release dated June 20, 2024)
  • "Troilus Gold Corp. Advances Towards Construction Decision" (press release dated July 10, 2025)

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