ONTONAGON COUNTY, MI— Highland Copper says it’s partnered with Kinterra Copper USA on its White Pine North Project in Ontonagon County.
Kinterra has made a cash payment of $30 million for a 66-percent stake in the mine. Another $30 million investment will be made to advance the project through permitting, infill drilling, and a feasibility study.
The initial $30 million proceeds from the arrangement will let Highland initiate early site works at the fully-permitted Copperwood project outside Wakefield, where Highland is focused on advancing to development and production.
The White Pine Mine operated successfully for 50 years until the mid-1990s. The results of a Preliminary Economic Assessment indicate the project could have another 22 or more years of mining.
Officials are looking to complete permit applications next year. The feasibility study is also expected to begin in 2024. Construction could begin in 2026 and continue over three years. The mine is expected to begin production by 2029.
