Image Credits : Pixabay | Visual for illustration purpose
1 minute read

Michigan approves $50M for Upper Peninsula copper mine

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.

Legal Disclaimer:
Bridgemicom Business Watch
GLOBAL FLOW CONTROL provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above. "

Latest News

  • Power Generation
    2 minutes read

    The Nuclear Company Announces Plans to…

    22 Jul. 2024 | Global Flow Control
  • Petro (Chemicals)
    1 minute read

    US’s Lionsbridge Plans $3 Billion Phosphoric…

    22 Jul. 2024 | Global Flow Control
  • Oil and Gas
    1 minute read

    China’s CPEC Wins USD 397 Million…

    22 Jul. 2024 | Global Flow Control
  • Oil and Gas
    1 minute read

    UK-Based Company Wins Multiple Contracts for…

    22 Jul. 2024 | Global Flow Control