Kinterra Capital receives $200M in indicative EXIM support for Pumpkin Hollow restart

Canadian private equity Kinterra Capital and its operating subsidiary, Southwest Critical Materials LLC, announced Tuesday the receipt of a letter of interest from the Export-Import Bank of the United States (EXIM) for a potential debt financing of up to $200 million.

The letter outlines $180 million in potential funding to complete the restart of the Pumpkin Hollow underground copper mine in Nevada, plus $20 million to advance technical work related to the Southwest open pit project.

The firm acquired Pumpkin Hollow last October through a $128 million stalking horse bid for its previous owner Nevada Copper, which had briefly brought the mine into production before encountering operational setbacks and subsequently went bankrupt.

“With EXIM’s support, the restart of Pumpkin Hollow is now fully financed,” Ian McMullan, project director for Pumpkin Hollow, said in a news release. “The underground mine’s existing infrastructure allows us to efficiently bring the operation back online and contribute to strengthening secure, resilient supply chains for copper.”

The United States currently relies on imports for roughly 40–45% of its annual copper consumption, underscoring copper’s status as a critical material for national security and the transition to an electricfied economy.

“Our focus is on building geopolitically de-risked critical materials supply chains that strengthen industrial and economic security while creating significant local employment,” said Laura Fernandez, partner at Kinterra. “We value EXIM and the strong partnership we’ve developed with the US government, and we look forward to finalizing this financing.”

The EXIM financing interest is part of the bank’s Make More in America Initiative. Launched in 2022, the program aims to support export-oriented domestic manufacturing facilities and infrastructure projects.

EXIM’s letter also notes that the proposed financing may qualify for consideration under Section 402 of EXIM’s 2019 Reauthorization, a program that prioritizes projects strengthening US industrial leadership and reducing reliance on foreign supply chains.

If approved under Section 402, the transaction could benefit from accelerated review, enhanced support and flexible financing terms, reflecting the US government’s recognition of copper as a material vital to national and economic security, the company said.

With more than $1 billion of installed infrastructure, Kinterra expects Pumpkin Hollow to begin underground mining activities in the second quarter of 2026, which starts the process of bringing approximately 60 million pounds of domestic supply online.