Exim signals $250m financing interest in Highland Copper's project
TSX-V- and OTCQB-listed Highland Copper has received a non-binding letter of interest (LoI) from the Export-Import Bank of the United States (Exim) for up to $250-million in potential debt financing to advance its fully permitted Copperwood project in Michigan’s Upper Peninsula.
The LoI, issued under Exim’s Make More in America Initiative and potentially also eligible under its China and Transformational Exports Programme, could support a significant portion of Copperwood’s estimated $400-million initial capital requirement.
Copperwood is among the few copper projects in the US with all major permits secured and a completed feasibility study. Highland is currently advancing detailed engineering to prepare the project for a construction decision.
“We are thankful to receive this LoI from Exim, demonstrating Copperwood’s significance at a federal level,” said Highland CEO Barry O’Shea. “Copperwood is strategically positioned to strengthen the US supply chain for critical minerals. Copperwood will provide a reliable domestic source of copper, support Michigan’s economy and operate responsibly, aligned to Michigan’s stringent environmental standards.”
Highland also holds a 34% interest in the White Pine North project, through a joint venture with Kinterra Copper USA, and controls surface rights for infrastructure at Copperwood.
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