- Junior miner Highland Copper Company (TSXV:HI) received a nod in a new publication from the Trump administration about advancements in the US mining industry
- Upon construction, the company’s Copperwood project in Michigan is expected to produce more than 60 million pounds of copper per year for more than a decade
- Highland Copper stock last traded at C$0.14 and has added 50 per cent year-over-year
Junior miner Highland Copper Company (TSXV:HI) received a nod in a new publication from the Trump administration about advancements in the US mining industry.
The publication, entitled “Fact Sheet: President Donald J. Trump Strengthens Tariffs on Steel, Aluminum, and Copper Imports — Bolstering Domestic Manufacturing of Strategic Metals and their Derivatives,” differentiates tariffs on products made entirely from these metals from tariffs placed on derivative products, with prices increasing anywhere between 10-50 per cent depending on how much metal they contain. This represents a marked shift in tone from the previous iteration of these tariffs, which applied in blanket fashion across all related products without accounting for their component metals.
The publication goes on to relate tariffs’ ability “to more effectively address the national-security threat” posed by steel, aluminum and copper imports” with “the economic resilience of vital industries and the financial position of American workers,” noting that, “earlier this year, Century Aluminum and Emirates Global Aluminum announced a joint venture to build the first new aluminum smelter in the United States in decades, in Oklahoma,” while “companies such as Highland Copper, Ivanhoe Electric, Rio Tinto and Wieland are expanding US copper mining, smelting and fabrication facilities.”
In Highland’s case, the company’s Copperwood project in Michigan presents itself as a low-cost means to meaningfully bolster the US supply chain, with a feasibility study estimating that the project will produce 64.6 million pounds of copper and 106,966 ounces of silver per year over a 10.7-year mine life. A plan to usher the project towards a construction decision is now in motion.
“I am grateful that the White House recognized Highland Copper as important to the expansion of US domestic copper mining,” US Congressman Jack Bergman (R-MI), a retired Lieutenant General in the US Marine Corps and a member of the House Committee on Armed Services, said in Monday’s news release. “Highland’s Copperwood project aims to responsibly produce copper in Michigan to help support the American economy and national defense.”
Barry O’Shea, chief executive officer of Highland Copper, added context to the mention, hinting at future project developments, noting that, “This White House statement is an important acknowledgement of Highland’s Copperwood project. It also reflects our visibility to the administration and key US federal agencies. We look forward to continuing discussions on federal funding opportunities at the US Export Import Bank, from which Highland received a letter of interest for US$250 million in project financing, in addition to early engagement with the Department of War and the Department of Energy, as we continue to drive the Copperwood project to a near-term construction decision.”
About Highland Copper Company
Highland Copper is a mineral exploration and development company advancing a pair of high-potential projects in the US state of Michigan.
Highland Copper stock (TSXV:HI) last traded at C$0.14 and has added 50 per cent year-over-year.
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