Highland Copper hopes to hit mine production in the Keweenaw Peninsula at peak copper demand
Copper is known as the metal of electrification. Highland Copper holds ample reserves in a historic mining district in Michigan’s Upper Peninsula that could address a looming supply shortage of the metal that’s used in electric vehicles and alternative sources of power.
With two multi-billion-pound copper projects located at the base of the Keweenaw Peninsula, CEO Barry O’Shea said his Quebec and Michigan-based company could be stepping into project funding and a construction decision by 2024 to start a three-year build.
Located in Michigan’s ‘Copper Country,’ O’Shea said since they have pocketed all the necessary state permits, they can start construction of its proposed underground Copperwood Mine. It’s just a matter of securing funding for the US$425-million endeavour.
Copperwood is the smaller of its two projects, but it is one of the few fully permitted copper projects in the U.S. The 3.7-billion-pound indicated resource has an initial 11-year mine life with legs to last longer based on more resources that have yet to be proved up.