Export Development Canada interested to finance C$150m for Atlas Salt's development
TSX-V-listed Atlas Salt has received a letter of interest from Canada's export credit agency Export Development Canada to provide long-term debt financing of up to C$150-million for the Great Atlantic Salt project, in Newfoundland and Labrador.
The letter of interest marks an important milestone in the company's project financing process and confirms interest from the financing community, particularly as the company continues to engage with export credit agencies, vendor-financing counterparties and strategic financing partners globally.
"Export credit agencies apply rigorous, disciplined diligence, and their engagement at this stage reflects the strength and strategic significance of a long-life, Canadian industrial-salt asset. This key derisking event is one part of a broader financing process that is progressing across multiple counterparties and jurisdictions, and we look forward to advancing that process in a diligent manner alongside our advisor, Endeavour Financial," says Atlas Salt president and CEO Nolan Peterson.
Atlas Salt is looking to secure between C$350-million and C$400-million of senior secured debt, anchored by the Great Atlantic Salt updated feasibility study that was released in September 2025.
The study delivered an after-tax net present value of C$920-million for the project, including a 21.3% internal rate of return and 4.2-year payback period.
Great Atlantic Salt is envisioned to be a four-million-tonne-a-year operation generating C$188-million in after-tax free cash flow over a 25-year mine life.
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