Trafigura signs USD350 million loan facility agreement with Develop Global Ltd
Singapore, 10 June 2026 – Trafigura Pte Ltd. (“Trafigura” or the “Company”), a global leader in the commodities industry, has signed a USD350 million loan facility agreement with Develop Global Ltd ("Develop") to support the development of two new mines producing critical industrial and battery metals.
This transaction is another example of a significant financing deal concluded by Trafigura’s market-leading Metals, Minerals and Bulk Commodities division to support the supply of metals and minerals needed to meet growing global demand.
The two projects – Sulphur Springs, a copper-silver-zinc project in Western Australia, and the Pioneer Dome Lithium Project also in Western Australia – will bring essential resources to market upon completion.
Alongside the loan facility, Trafigura and Develop have agreed binding offtake agreements covering 100% of available production from both projects for an agreed period, as well as a warrant package that, if exercised, could provide Develop with an additional USD50 million of funding.
As part of the broader package, Trafigura has also agreed to refinance an existing loan facility on Develop's operational Woodlawn copper-zinc-lead mine.The two companies have additionally agreed to assess future opportunities together to further accelerate Develop's growth strategy.
With financing and offtake agreements now in place, Develop has taken final investment decisions on both projects, accelerating its transition from a single-asset company to a diversified miner. For Trafigura, the deal secures access to critical minerals from a tier-one jurisdiction for supply to customers worldwide.
Trafigura Global Head of Metals and Minerals Gonzalo De Olazaval said: "Two years after backing Develop’s first project Woodlawn, we are delighted to see this relationship reach a new milestone with this USD350 million facility which enables Develop to take Final Investment Decisions on two further critical minerals projects in Australia — a defining moment as they grow from a single producing asset into a miner that will soon have three producing assets across a diversified basket of metals.
This transaction exemplifies what Trafigura does best: working alongside strong management teams and leveraging our financial strength and market expertise to help bring the critical industrial and battery metals the world needs to market."
Develop MD Bill Beament said: "These are pivotal developments which set our company up for rapid growth. They unlock huge value of these two projects, putting us on track to generate significant cashflows from three operations covering copper, zinc, silver and lithium and all in Australia."
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For further information please contact:
Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through MorGen Energy and joint venture Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs approximately 14,500 people, of which over 1,400 are shareholders, and operates in over 150 countries.
Visit: www.trafigura.com
About Develop Global
Develop (ASX: DVP) has a twin-pronged strategy for creating value. The first of these centres on the exploration and production of future-facing metals. As part of this, Develop owns the Woodlawn copper-zinc mine in NSW, the Sulphur Springs zinc-copper-silver project in WA’s Pilbara region and the Pioneer Dome Lithium Project in WA’s Eastern Goldfields. The second plank of Develop’s strategy centres on the provision of underground mining services. As part of this, Develop has multiple underground mining services contracts across multiple assets in Australia and internationally.
Visit: www.develop.com.au