Troilus, Torngat ink offtakes on Canada’s German mission

[Redator]

Troilus Gold (TSX: TLG), which is developing a C$1.1 billion ($800 million) capex brownfield mine project in Quebec, has signed a preliminary copper offtake agreement with a German smelter during Prime Minister Mark Carney’s trade mission to Europe.  

The deal with Aurubis in Hamburg concerns a “significant amount” of Troilus’ future concentrate production at the self-named project though financial details weren’t given, the government said on Tuesday.

It joins with other agreements on the trip. Quebec’s privately-held Torngat Metals is supplying rare earth oxides from its C$2 billion capex Strange Lake project to magnets producer Vacuumschmelze near Frankfurt. Rock Tech Lithium (TSXV: RCK), a Canadian-German cleantech company, is getting green energy. And Carney signed a Joint Declaration of Intent with German Chancellor Friedrich Merz to deepen critical mineral ties across supply chains, research and development, and new mining funding.

“Canada has immense potential to be a leading and reliable global supplier of critical minerals, and Canada and Germany are natural strategic partners in this mission,” Carney said in a release. “As Germany’s domestic demand for critical minerals grows and it diversifies its supply chains, Canadian workers and industries can be the strong, stable provider of these indispensable resources.”

Shares in Rock Tech shot up 9.5% on Tuesday afternoon in Toronto to C$1.04 apiece, valuing the company at C$112 million. Stock in Trolius Gold advanced 0.6% to C$0.82 each for a market capitalization of C$327 million.

Europe pivot

The trip, which included Tim Hodgson, Minister of Energy and Natural Resources, and Mélanie Joly, Minister of Industry, underscored Canada’s push to develop critical minerals by broadening investment ties with Europe and Asia. It reflects the new international reality after US President Donald Trump’s sweeping tariffs on allies, his NATO belittling and annexation threats. Facing mounting pressure, Ottawa is pivoting to alternative markets after realizing the country was too dependent on its southern neighbour.

Likewise seeking new markets, Troilus is participating in the Canadian Critical Minerals Investment Forum in Tokyo and Seoul this week. The event organized by the Canadian government will convene global investors, government officials and industry leaders to foster critical minerals partnerships. In addition to attending the forum, Troilus plans to hold bilateral meetings in both countries to advance strategic collaborations with potential partners and customers.

The events speak to Canada’s commitment to its critical minerals strategy, and strengthening its reputation as a dependable, strategically important source of copper and gold for global markets, the government said.

Troilus project

Troilus is building a 50,000-tonne-per-day open pit mine with an estimated 22-year mine life producing 303,000 gold-equivalent oz. annually with peak production of 536,400 ounces. The property hosts a former mine that produced 2 million oz. of gold and almost 70,000 tonnes of copper between 1996 and 2010.

Torngat’s Strange Lake project aims to produce roughly 15,000 tonnes per year of rare earth oxides. The company, which received $165 million in government funding this year, plans to begin construction in late 2026 and start operations by 2028. With more than of half Strange Lake’s output to be classed as heavy rare earths, this would make it the largest heavy rare earth producer in North America and one of the largest outside China.

Rock Tech Lithium signed a memorandum of understanding with green energy provider Enertrag to connect its lithium conversion plant in Guben, 140 km southeast of Berlin, to Enertrag’s solar and offshore wind farms. This will allow Rock Tech Lithium to decarbonize its operations and offer more competitive pricing.

Rock Tech inks German renewable energy deal for lithium plant

Rock Tech plans to start commissioning Guben plant this year with first battery‑grade lithium hydroxide production expected in early 2026. The company has the Georgia Lake lithium project in northern Ontario where a 2022 prefeasibility study suggested a first probable reserve at 7.3 million tonnes grading 0.82% lithium oxide. That year it signed a framework agreement with an unnamed global car maker headquartered in Germany to supply lithium hydroxide over an initial five-year period.