Turner Mining Group has announced an equipment financing partnership with Wingspire Equipment Finance, creating a capital facility of up to $150m.

The funding supports the expansion of Turner Mining Group’s fleet and aims to boost growth in North America.

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Wingspire has provided an initial $20m in financing, with additional funding available as Turner Mining Group expands its operations.

As a long-term capital partner, Wingspire is backing Turner Mining Group’s growing project portfolio in the mining and natural resources sectors.

The initial funding supports the acquisition of a mobile mining fleet including essential equipment such as haul trucks and excavators, currently in use at Nevada’s GRP Pan Gold Mine.

Additional funding will be provided as new projects develop and equipment requirements increase.

Turner Mining Group president and founder Keaton Turner said: “We are excited to partner with Wingspire Equipment Finance as we continue to invest in the heavy equipment needed to support our clients and our long-term growth.

“We drew the first $20m to support our new mining fleet in Nevada, and as we continue to add new operations and new contracts in the months ahead, we have the capital infrastructure already in place to move fast and ramp up our customers’ operations without delay.

“Wingspire Equipment Finance understands our business and has structured something that grows with us, and that kind of partnership is invaluable.”

Led by Conner Ingram, vice-president at Wingspire Equipment Finance, the facility provides Turner Mining Group with flexible, on-demand capital, eliminating the need to secure new financing for each contract.

Ingram said: “Currently, the mining and natural resources industries are experiencing a period of sustained capital inflows, robust infrastructure demand and strong commodity fundamentals.

“Turner Mining Group has built an exceptional operational platform, and this facility ensures they have the capital access they need to keep pace with their growth, on their timeline, not the market’s.”

Operating across US states including Texas, Arizona, Idaho and Nevada, Turner Mining Group has become a reliable partner for major industry producers.

The financing from Wingspire supports equipment investment and operational expansion, enabling rapid response to market opportunities.