Summer surprises with 3rd highest capital raising

During the period from July 16 to Aug. 14, 2026, the three largest mining financings and credit-facility transactions totalled around $1.74 billion (US$1.25 billion), the third largest capital raising period this year.

AMG Critical Materials (Euronext Amsterdam: AMG) led the period with US$700 million in new credit facilities, worth about $959 million, followed by Altius Minerals (TSX: ALS) with $531.5 million in equity and credit facilities and Cadillac Mines (TSX: CADY) with $250 million in equity financing. The AMG and Altius figures include credit facilities rather than representing entirely new cash received by the companies.

AMG expands operations

AMG refinanced its existing debt with US$700 million in new credit facilities, extending its major debt maturities by several years. The financing gives the critical-minerals producer greater flexibility as it expands its operations and advances its recently acquired Zinnwald lithium project in Germany and its specialty-metals businesses.

AMG has also been investing in expanding lithium hydroxide production in Germany and recently opened a chrome-metal plant in New Castle, Pa., part of its strategy to increase Western production of critical materials.

Altius’ M&A focus

Altius raised $181.5 million in equity and increased its revolving credit facility to $350 million from $225 million. The additional capital helped fund its approximately US$168-million acquisition of Northampton Capital Partners’ stake in Altius Renewable Royalties, increasing Altius’s effective ownership of Great Bay Renewables to 50% from 29%.

The deal significantly increases Altius’s exposure to royalties on renewable-power projects while leaving it with additional borrowing capacity to pursue further royalty and streaming investments.

Cadillac advancing portfolio

Cadillac raised $250 million in gross proceeds, comprising $190 million from the treasury portion of its initial public offering and $60 million from Agnico Eagle Mines (TSX, NYSE: AEM).

The newly public explorer plans to use the money primarily to advance its Canadian exploration portfolio, led by the past-producing Kerr-Addison gold project in Ontario, where drilling is targeting extensions of the historic high-grade system. Funds will also support work at the Galloway gold project in Quebec and Geminid nickel discovery in Ontario, as well as general corporate purposes.