Kinterra Capital Affiliate Acquires Majority Interest in White Pine North, a Large-Scale Copper Project in Michigan
24 Julho 2023 - 3:16PM
Business Wire
One of the Largest Independent Copper Assets
in North America 5.7 billion lbs of copper, US$821 million
net present value with a 22-year mine life White Pine will
feed the structural deficit in copper for years to come
Kinterra Capital Corp., a private equity firm that invests in
and develops key critical minerals assets and strategic
infrastructure necessary for the energy transition, today announced
that Kinterra Copper USA LLC (“Kinterra Copper” or the “Company”),
a Kinterra affiliate, has entered into a joint venture with
Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland”)
to acquire a 66% interest in the White Pine North copper project
(“White Pine North”), located in Michigan, USA.
White Pine North is one of the largest independent copper
development projects in the United States. Located in a Tier 1
jurisdiction that offers regulatory certainty, White Pine North
contains 5.7 billion lbs of copper and has an US$821 million net
present value with a 22-year mine life1. In addition, White Pine
North benefits from a significant drillhole database and a well
defined resource, proximity to existing infrastructure, low holding
costs, and offers significant expansion opportunities.
The transaction provides Kinterra Copper with a controlling
interest in the joint venture with majority board representation,
allowing it to leverage its deep technical expertise to de-risk and
optimize the project. Key value creation initiatives will focus on
project optimization, procuring key project permits including
progressing baseline studies, advancing the project through
detailed engineering and building strong stakeholder support.
Highland’s participation in the joint venture brings extensive
experience in the Upper Peninsula region of Michigan and a history
of strong community relationships.
“We are very excited to partner with Highland on the White Pine
North copper project,” said Cheryl Brandon, Co-Founder and
Co-Managing Partner of Kinterra Capital. “White Pine North adds
another high-quality asset that will contribute to the energy
transition to Kinterra’s portfolio. By applying our deep technical
expertise, our team has identified numerous initiatives that will
drive significant value creation for all project stakeholders. We
look forward to progressing White Pine North in Michigan, a state
that has made a demonstrated commitment to electrification.”
According to S&P Global, during peak demand years for energy
transition materials, the United States will need to import the
majority of the copper it requires. “Given that White Pine North
will feed the structural deficit in copper from a domestic source
in the United States at scale, we believe the asset holds
significant strategic value, making it a compelling addition to
Kinterra’s portfolio,” added Kamal Toor, Co-Founder and Co-Managing
Partner of Kinterra Capital.
About Kinterra Capital
Kinterra Capital is a private equity firm investing in the
people, ideas, critical minerals, and strategic infrastructure
necessary to accelerate the energy transition. Kinterra leverages
significant domain specific technical and transactional expertise
to source and manage investments that create value for key
stakeholders, all while enhancing the communities within which we
operate through meaningful partnerships. At Kinterra, we focus on
innovative ideation, rigorous analysis and executing with
excellence to make investments that will create a more sustainable
future. For more information about Kinterra Capital, visit
www.kinterracapital.com
Cautionary Note Regarding Forward-Looking Information
This press release contains certain “forward-looking
information” under applicable securities laws. These
forward-looking statements are made as of the date of this news
release and Kinterra Capital does not intend, and does not assume
any obligation, to update these forward-looking statements. All
statements, other than statements of historical fact, that address
activities, events or developments that Kinterra Capital
anticipates, expects or believes may occur in the future, are
forward-looking information. This includes but is not limited to
statements regarding the net present value, estimated copper
resources, mine life, future production, project optimization and
the procurement of project permits. Terms such as “will”, “may”,
“expect”, “believe”, and similar expressions are intended to
identify forward-looking information. Forward-looking information
inherently involves risks and uncertainties that could cause actual
results to differ materially from those predicted in such
forward-looking information. Readers are cautioned not to place
undue reliance on forward-looking information.
1 Technical information in this news release is derived solely
from the news release of Highland Copper Company Inc. dated July
24, 2023, and is subject to all qualifications, assumptions and
forward-looking statements in such release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230724949017/en/
Media: Tom Faust tfaust@stantonprm.com 646-502-3513
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