Turner Mining Group taps Wingspire Equipment Finance for fleet expansion plans
Turner Mining Group has announced an equipment financing relationship with Wingspire Equipment Finance, establishing a structured capital facility of up to $150 million to support its expanding fleet and accelerate growth across North America.
Wingspire Equipment Finance has deployed an initial $20 million tranche, the first of a planned series of releases. The remaining funds will be available to Turner Mining Group as new operations launch and the company scales its business.
This initial amount supports Turner Mining Group’s acquisition of a mobile mining fleet, including haul trucks, bulldozers, excavators, motor graders and wheel loaders, which are currently operating under a multi-year mining contract at the GRP Pan Gold Mine in Nevada. Turner Mining Group elected to draw the first tranche now to support active operations, with additional draws from the facility anticipated in the coming months as new project sites ramp up and equipment needs grow.
The purpose-built capital solution gives Turner Mining Group on-demand access to capital as operational demand dictates, rather than requiring the company to secure new financing each time a new contract is awarded. The result is a flexible, scalable credit structure that, the company says, keeps Turner Mining Group positioned to move quickly and decisively in a competitive market.
“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,” Keaton Turner, President and Founder of Turner Mining Group, said. “We drew the first $20 million 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.”
With active operations across multiple project sites from Texas to Arizona, Idaho to Nevada, and across the United States, Turner Mining Group has established itself as a trusted contract mining partner to some of the industry’s leading producers. The financing facility with Wingspire Equipment Finance enables Turner Mining Group to invest in equipment, expand its operational reach and respond quickly to market opportunities, it says.
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