Timminco Ltd. will receive $10 million in financing from AMG Advanced Metallurgical Group NV to boost its silicon metal production and reposition its solar-silicon business.

Amsterdam-based AMG will issue a $5-million loan to Timminco subsidiary Becancour Silicon Inc. in exchange for a convertible senior subordinated promissory note with a maturity date of Jan. 3, 2011.

AMG also will purchase 3.8 million Timminco common shares in a private...