LANSING, MI— The Michigan Strategic Fund has approved a $50 million grant for the Copperwood Mine project in Gogebic County.
Copperwood Resources will receive $44.9 million in Strategic Site Readiness Program grants, while the Gogebic County Road Commission will receive $5 million. The money will be used to for road, utility, and telecommunications infrastructure.
Proponents say the copper mine will extract material that’s critical in today’s world, create more than 380 jobs, and generate about $425 million in capital investment.
Environmentalists say the mine will destroy streams and wetlands near Porcupine Mountains Wilderness State Park. They say it would produce more than 40 tons of toxic waste, which would be stored in a tailings basin close to Lake Superior.
At its Tuesday meeting, the MSF also approved a $3.3 million Tax Increment Financing plan for Marquette’s Trestle Hotel project, which includes construction of an 80 room hotel, commercial space, and a two-story public parking structure.
