Private equity firm Kinterra Capital is aiming to restart the Pumpkin Hollow underground copper mine in Nevada within the next 24 months, following the completion of an $80-million equity financing led by Lionhead.

Together with the adjacent Southwest openpit project, Pumpkin Hollow has the potential to supply about 228-million pounds of copper a year – equivalent to 5% to 6% of current US demand.

The project was previously operated by Nevada Copper, but struggled with operational and financial challenges before Kinterra acquired it.

“Kinterra's restart of Pumpkin Hollow and the advancement of the Southwest openpit are pivotal milestones for our large and growing US copper portfolio and for US copper supply chains,” said Kinterra co-managing partner Cheryl Brandon. “Within the next 24 months, we expect to have a producing and cash flow generating underground copper mine and a shovel-ready openpit, all in Nevada.”

With more than $800-million in installed infrastructure, the fully permitted Pumpkin Hollow project is debt free and hosts an estimated 1.7-billion pounds of copper resources. Restart activities include closing pre-existing gaps, completing a geological resource update, advancing trade-off studies and upgrading engineering standards. Offtake financing discussions with downstream partners are also under way.

“Pumpkin Hollow is exactly the type of investment that Lionhead seeks to invest in: a high-quality asset with a clear path to restart and a management team with a proven ability to execute," said Lionhead co-founder and managing partner Paul Quirk.

The Southwest openpit project, located adjacent to Pumpkin Hollow, contains about 3.6-billion pounds of copper and is expected to have a 20-year mine life. Kinterra plans to complete trade-off studies and a feasibility study within the same 24-month period. Key initiatives include geophysical surveys, a new three-dimensional geologic model, metallurgical testwork, grid connection studies and cultural site evaluations.

Kinterra’s US copper portfolio also includes the Antler project in Arizona, which hosts more than 400-million pounds of contained copper and 1.3-billion pounds of zinc. Together, these assets are designed to provide tariff-free domestic copper supply.

Global copper use is projected to grow significantly through 2035, as domestic supply deficits widen, making US production more critical than ever. Kinterra's execution plan is expected to contribute meaningfully to local economies and create about 1 000 jobs during restart and construction and nearly 600 permanent operating roles.