Photo credit: Highland Copper
Crain’s Detroit Business
March 26, 2024
Nick Manes
Two months after being tabled due to a lack of dedicated financing, plans to launch a new copper mine in the Upper Peninsula are moving forward with initial approval of a $50 million state grant.
The board of the Michigan Strategic Fund voted on Tuesday to advance the proposed project to launch a Canadian-owned copper mining operation in an economically challenged part of the state. The public funding for the project, which would come from the state’s Strategic Outreach and Attraction Reserve Fund, still requires approval from the state Legislature, as well as the developer meeting myriad milestones.
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In addition, officials said a Michigan-based copper mine also reduces foreign dependence on the material that’s used in large amounts in auto manufacturing, as well as other green technology such as wind turbines and solar generation, according to Glenn Stevens Jr., executive director of MICHauto, an industry group for the automotive sector.