Blue Moon Metals Secures Substantial Financing for Nussir Copper Project

Blue Moon Metals, a Vancouver – based junior company, is making significant progress with its Nussir copper project in Norway. The firm has obtained at least $140 million in financing from Hartree Partners and Oaktree Capital to fund early project works.

The capital package consists of a $25 – million bridge loan already in place. This is followed by a $50 – million senior secured term loan, a $70 – million precious metals stream, and up to $20 million in equity for further development and execution.

The financing, led by Hartree (a global energy and commodities trading house) and Oaktree (a Los Angeles – based asset manager with $205 billion under management and a stake in Hartree), will cover engineering, long – lead equipment, underground development, and working capital. Nussir has been designated an EU strategic critical raw material project and is a rare new low – cost copper project in the pre – construction phase, aiming for a September 2027 startup.

Blue Moon Metals’ CEO, Christian Kargl – Simard, stated that this partnership showcases the project’s strength, support from strategic partners, and confidence in the team’s capabilities. He also expects to announce at least one more strategic financing package in the next two months for the company’s asset portfolio.

On Wednesday afternoon, as broader markets declined, Blue Moon Metals’ shares in Toronto fell 4.2% to C$3.42 each, with the company’s market value at C$180 million.

Nussir Project Developments in Finnmark Region

Blue Moon is advancing an underground decline and early access blasting at Nussir, located in the rugged Finnmark region, 1,370 km north of Oslo by air. Basic plant engineering is set to be completed this year, with detailed engineering to follow in 2026.

A 2023 JORC feasibility study indicates that building Nussir’s underground operation would cost about $330 million. It projects a post – tax net present value of around $665 million at an 8% discount rate and a 25 – year mine life. Average annual production is expected to reach approximately 25,000 tonnes of copper concentrate, along with additional silver and gold by – p...