Turner Mining Expands Fleet With $150 Million Financing From Wingspire

Dubai (PlantAndEquipment.com) - To support fleet development and growth across North America, Turner Mining Group has obtained a $150 million equipment finance arrangement from Wingspire Equipment Finance.

A $20 million initial tranche has been allocated, and further funds will be made available when new activities are started and equipment demand rises.

Mobile mining equipment such as haul trucks, excavators, bulldozers, motor graders, and wheel loaders are being purchased with the funding. Under a multi-year deal, the first tranche supports operations at the GRP Pan Gold Mine in Nevada.

Turner Mining may expand operations without obtaining fresh funding for every project because to the facility's flexible access to cash.

According to officials, the deal is a reflection of the mining and natural resources industry's robust demand, which is bolstered by infrastructure investment and the strength of the commodities market.

Turner Mining, which has operations in Texas, Arizona, Idaho, and Nevada, said that the cash would allow it to increase its equipment base and react faster to new project prospects.