Highland Copper has agreed to extend the closing date of its White Pine North Project acquisition from Copper Range Company (CRC) to June 30, 2020.
The company acquired the project from CRC—a First Quantum Minerals subsidiary—in 2014. However, Highland can only become the project’s sole owner after CRC is released from environmental obligations related to the historic site’s remediation and closure, and pays an environmental bond of approximately $1.7mn.
According to the company’s website, White Pine North is an extension of the historical White Pine mine in Michigan, which operated from 1953 to 1995.
Highland conducted a preliminary economic assessment of the White Pine North area in September 2019 that indicated mineral resources of 133.4mn mt at 1.07pc copper.