Officials at Highland Copper Company Inc. have announced that their 100%-owned Upper Peninsula Copper Holdings Inc. subsidiary will acquire the of First Quantum Minerals Ltd.’s Copper Range Co. unit and its White Pine copper project in Michigan.
Until final closing in Q4 2015 under a $2.85 million bond, Highland will access the project for exploration and development while Copper Range continues environmental and remediation work up to $2 million, according to officials; Highland will assume all liabilities afterwards. White Pine lies in Michigan’s Upper Peninsula.
White Pine is served by infrastructure, including a CN rail spur, a paved highway, a natural gas pipeline, a water pipeline to Lake Superior and a water processing plant. Highland Copper Company Inc. is a Canadian exploration company focused on exploration and development of copper on Upper Michigan’s Keweenaw Peninsula.