The state of Michigan has agreed to spend $50 million to support a plan for a new copper mine near the shore of Lake Superior — despite disagreements on whether the economic benefits are worth the environmental risks.
After hearing dozens of speakers and two committee reports during the Michigan Strategic Fund meeting in Lansing, the board voted without comment to allocate $50 million toward the Copperwood mine planned by the Highland Copper Co. in the far western reaches of the Upper Peninsula about five hours west of the Mackinac Bridge.
Canada-based Highland Copper will only receive the money if it can prove that it has secured funding for the mine worth three times the state’s investment. The company’s overall investment is expected to be $425 million. The project is among efforts “critical to emboldening Michigan’s supply chain and creating jobs across the state,” Quentin Messer Jr., president and CEO of the Michigan Economic Development Corporation, told reporters during a media briefing.