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Michigan Board Approves $50M Copperwood Mine Grant Using 2022 Funds
The grant will fund roads, power and telecommunications as Highland Copper seeks financing for a mine expected to create 380 jobs.
- On Tuesday, the Michigan Strategic Fund Board approved $50 million in grants for the Copperwood Mine in the Upper Peninsula, supporting site readiness infrastructure for the copper mining project.
- To bypass legislative appropriations committees, the Michigan Economic Development Corporation utilized 2022 funds originally intended for different projects, avoiding the scrutiny typically required for state business incentives.
- Highland Copper CEO Barry O'Shea plans to open the $425 million mine, which aims to create roughly 380 jobs if the company secures $150 million in additional private financing by spring 2028.
- Environmental advocates, including Protect the Porkies founder Tom Grotewohl, expressed concerns about potential waste runoff into Lake Superior, while proponents cited the mine as vital economic opportunity for the region.
- Developers must finish infrastructure spending by March 31, 2033, while Highland Copper pursues a potential $250 million Export-Import Bank of the United States loan to complete project financing.
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21 Articles
21 Articles
Associated Press News+16 Reposted by 16 other sources
Controversial UP copper mine gets $50M in state grants after years of trying
State taxpayers will spend up to $50 million on the polarizing Copperwood copper mine in the far western Upper Peninsula following a vote Tuesday by the Michigan Strategic Fund.
·New York, United States
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iosconews.com+2 Reposted by 2 other sources
Copperwood mine critics raise pollution, tourism concerns as board approves $50M in funding
Following several attempts to move ahead with a grant supporting a mining project in the Western Upper Peninsula, members of the Michigan Strategic Fund Board gave the grants a go-ahead, utilizing funds previously approved by state lawmakers. Board members voted…
Coverage Details
Total News Sources21
Leaning Left8Leaning Right2Center11Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 38%
C 52%
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