Highland Copper inks a mine development partnership deal with Kinterra Copper USA
A Quebec-based junior miner with a copper deposit in northern Michigan has brought aboard a deep-pocketed partner to advance it to production.
Longueuil-headquartered Highland Copper has entered into a joint venture with Kinterra Copper USA to bring cash and technical expertise to turn its White Pine North project into a mine. Kinterra made a cash payment of $30 million to take a 66 per cent ownership stake in the project. White Pine North is one of two copper projects owned by Highland. Copperwood is the other, located 60 kilometres (37 miles) to the southwest.
Both are located near the south shore of Lake Superior at the base of the Keweenaw Peninsula, a historically well-known region of the U.S. for copper mining. This deal with Kinterra is only for the White North Project, the smaller of the two deposits.
Kinterra has stepped into a good situation. Highland just released a preliminary economic assessment (PEA) of White Pine North this week showing a 22-year mine life.