Michigan Strategic Fund Approves $50 Million Grant for Highland Copper's Copperwood Project - Seite 2

The Copperwood Project team has been working alongside local and regional community groups, government representatives and regulatory bodies in the Upper Peninsula for over a decade. Transparent and regular communications are central to the Company’s values and have resulted in strong support for the project throughout this application process. In addition to the 22 formal resolutions of support and approximately 10 letters of support that accompanied the grant application, more than 20 local community members and representatives participated in the MSF Board meeting and provided public comment in support of the project, speaking to its importance for the region.

“Team Michigan is thrilled to support the construction of the Copperwood Mine and grateful for the collaborative efforts of everyone – from the company to local and state officials and beyond – to ensure the success of this project,” said Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation and President and Chair of the Michigan Strategic Fund. “The economic impact of this project – with high wage direct jobs and countless community-supporting indirect jobs – cannot be overstated, as it translates to greater economic stability and prosperity for families, small businesses, and the local community. Copperwood Mine is another example of a company leveraging Michigan assets to ensure our continued leadership in sustainability and mobility innovation. We will continue working to win projects, invest in places and attract people as we encourage businesses of all sizes to ‘Make it in Michigan’.”

The Western Upper Peninsula has suffered industry closures in the past decades that took their toll on the local economy. The return of mining to the area is seen as an opportunity for significant economic uplift and can become a transformative catalyst to renewed industrial investments in the area that will support the regional economy for the decades to come. In addition, the potential creation of approximately 380 long-term, family sustaining jobs as well as substantial direct, indirect and induced economic benefits from additional spending in the area, can play a role in kickstarting a new chapter of prosperity for the Western Upper Peninsula.