Mining Finance Collapsed From 30 Banks to Just Five

Recorded on July 9 2026 at the Rick Rule Symposium David Rhodes, Managing Director of Endeavour Financial, joins Andy Millette to explain how mining finance has changed as traditional banks retreat from single-asset mine development. Rhodes draws on more than 30 years in global mining finance and over US$10 billion in arranged funding to break down the rise of private credit, private equity, royalties, streams, and government-backed capital. The discussion examines why critical-mineral policy is bringing government lenders back into the sector, including US Export-Import Bank financing for domestic projects. Rhodes also explains how Empress Royalty targets smaller royalty and streaming…