en.Wedoany.com Reported - Turner Mining Group, a contract mining service provider headquartered in Indiana, USA, has entered into a structured capital financing partnership with equipment financing firm Wingspire Equipment Finance, with a total financing facility of up to $150 million. This funding will support Turner Mining Group's expansion of its equipment fleet and accelerate its business growth in North America. Wingspire Equipment Finance has already disbursed an initial $20 million, with the remaining funds to be released as Turner Mining Group launches new projects and scales up its operations.
The initial $20 million will be used to acquire a mobile mining fleet, including haul trucks, bulldozers, excavators, motor graders, and wheel loaders. This equipment is currently operating at the GRP Pan Gold Mine in Nevada, USA, under a multi-year mining contract. Turner Mining Group opted to draw the first tranche to secure ongoing operations. It is expected that in the coming months, as new projects come online and contracts increase, the company will draw down additional funds from the remaining facility as needed.
Founded in 2017 by Keaton Turner and headquartered in Bloomington, Indiana, Turner Mining Group provides contract mining services to mining producers across North America. As of 2023, the company employed over 500 people, with services covering the mining and stripping of various minerals including copper, gold, silver, cement, and aggregates. In January 2026, the company formally commenced a multi-year mining services contract with mining company Minera Alamos at the GRP Pan Gold Mine, deploying a new fleet of Caterpillar equipment. Under the contract, Turner Mining will support the Pan site in increasing its combined ore and waste mining rate by approximately 40% during 2026.
Wingspire Equipment Finance, established in 2017 and headquartered in Tustin, California, is the equipment financing division of Wingspire Capital, which is a portfolio company of asset manager Blue Owl Capital Corporation (NYSE: OBDC). This financing facility was structured by Conner Ingram, Vice President of Construction, Mining & Energy at Wingspire Equipment Finance. It enables Turner Mining Group to access capital on-demand based on operational needs, eliminating the need to seek separate financing for each new contract. Ingram noted that the mining and natural resources sector is currently experiencing sustained capital inflows, driven by strong infrastructure demand and solid commodity fundamentals.
Currently, Turner Mining Group has active projects across multiple operational sites in the United States, from Texas to Arizona, and from Idaho to Nevada. As a long-term capital partner, this financing arrangement from Wingspire Equipment Finance will allow Turner Mining Group to continue investing in equipment, expand its operational footprint, and rapidly respond to market opportunities.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
