Sunshine Refinery Raises $270 Million in IPO for Idaho Mine Restart

Sunshine Refinery, a U.S. silver mining company, has conducted its initial public offering (IPO) in the United States, raising $270 million at the lower end of its pricing range. According to Jin10, the funds are expected to be used to restart production at a mine in Idaho. The company has retained the necessary permits for the resumption of mining and processing operations at the Sunshine Mine, which previously produced silver, antimony, copper, and lead before ceasing operations in 2001. The company plans to restart operations at the Idaho site in 2028. Over the past year, spot silver prices have more than doubled, driven by safe-haven demand, central bank purchases, and increased industrial use in data center cooling and solar panel sectors. Silver prices reached a historic high in January. Sunshine Refinery is also set to benefit from the growing demand for antimony, a critical mineral widely used in military, electronics, and data center industries. Sunshine Refinery anticipates that in the first five years following the mine's restart, it will achieve an average annual revenue of approximately $311 million and an average annual EBITDA of about $230 million.