Greater Commercial Lending (GCL) has offered a $25m US Department of Agriculture (USDA)-guaranteed loan to Lisbon Valley Mining to bolster copper production and aid renewable energy systems.

The loan has been facilitated through the USDA's Business & Industry Loan Programme.

GCL president Jeremy Gilpin said: “We are pleased to support Lisbon Valley Mining in their mission to expand and enhance copper mining operations.

“This financing signifies our commitment to fostering economic growth in under-served communities while contributing to essential industries crucial for a sustainable future.”

This financing will be channelled into working capital, procurement of heavy equipment and refinancing of existing debt.

The loan's impact extends to the renewable energy sector, where copper is crucial for solar and wind power systems, as well as EVs.

Lisbon Valley Mining CEO George Shaw said: “This government-guaranteed funding, thanks to GCL, marks a significant moment for our company and the local community.

“It enables us to not only reinvigorate our operations but also contribute to the essential supply of copper, a critical component in advancing sustainable energy solutions.

“With copper production indicating a future shortage, the continued mining of this resource from all available sources is paramount to the success of the US economy’s transition to new sources of renewable energy.”

Community Bank & Trust – West Georgia is also participating in the financing structure.

Lisbon Valley Copper is engaged in mining copper within Lisbon Valley in Utah, US. Lisbon Valley is said to be an extensive mineral district for copper and other resources.

In 2023, Anson Resources started construction on the demonstration plant at its Green River lithium project in Utah.