MONTREAL, May 19, 2026 /PRNewswire/ -- May 19, 2026 – Sydney, Australia
Highlights
- PMET has received non-binding letters of support from Export Development Canada ("EDC"), Germany's KfW IPEX-Bank and another major Canadian Government financial institution as part of advancing its ongoing financing strategy for the Shaakichiuwaanaan Project.
- EDC is Canada's export credit agency and a Government of Canada-owned financial Crown corporation which facilitated more than C$10 billion in business across the Canadian resources sector in 2024. EDC is a leading provider of financing solutions to the Canadian mining sector and strategic export industries.
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KfW IPEX-Bank is a wholly-owned subsidiary of KfW, one of the world's leading promotional banks. KfW IPEX-Bank is the specialist financier for international project and export finance within KfW Group, with a dedicated raw materials and mining division supporting global projects.
- As part of its mandate, KfW IPEX-Bank supports German and European companies worldwide, like Volkswagen Group who is a significant shareholder in PMET and PowerCo, who is a key offtake partner of the Company.
- The letters represent an important step in advancing financing discussions and institutional due diligence ahead of PMET's updated Feasibility Study, targeted for calendar Q4 2026.
- In further support of PMET's financing objectives, Volkswagen Finance Luxemburg S.A. ("VW") has now confirmed that it has obtained its final internal approvals for its participation in the February 2026 equity raise for approximately C$12 million.
- Financing discussions continue in parallel with permitting, engineering optimisation, product marketing and strategic commercial engagement.
