A metal mining company has acquired rights to explore around 400,000 acres of Upper Peninsula land for nickel deposits near the nation’s only nickel mine.
Talon Metals Corp. announced the land acquisition Wednesday from UPX Minerals Inc., which has owned it since 2013, when it was sold by Rio Tinto Group. Before that, it was owned by Ford Motor Co., whose founder Henry Ford first bought it for lumber and iron ore to build early Model Ts.
Talon aims to use the area once again to fuel American autos — this time with a crucial mineral for electric vehicle batteries.
It spans much of the area between Marquette and the Keweenaw Peninsula, and nears Lake Superior on its northern side and the town of Channing on its southern side.
Under the agreement, Talon has five years to spend $5 million on exploration or drilling in the area. If it finds nickel, it would plan a mine and begin trying to get permitted to build.
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