$700K grant secured to support White Pine Copper Refinery
WHITE PINE — Northern Initiatives has received a $700,000 grant award to support Phase II development of the White Pine Copper Refinery at the former White Pine Mine in Ontonagon County, according to a news release.
The U.S. Department of Health and Human Services, Administration for Children and Families, Office of Community Services, made the announcement as a part of its Community Economic Development Program.
The White Pine Copper Refinery Inc. and PM Power Group owns and operates an industrial scale copper refinery facility with the capability to refine and reprocess 170,000,000 lbs. of copper cathode annually.
“Essentially what we’ll be doing is taking environmental waste and creating pure copper cylinders for sale into the market,” PM Power Group COO Zach Holder said in the release. “We are using landfill diverted materials and copper containing recyclable by-products from industry in our installed and permitted assets in White Pine to recycle a commodity that everyone needs.”
With CED funds, PM Power Group will bring the existing Electro Metal Electrowinning pilot plant to full-scale production, according to the release.
“The EMEW will allow the company to reclaim copper along with other precious and rare earth metals from material removed, recovered and or diverted from landfills and other copper rich waste. Funding specifically will be used to improve the digestive phase of production to produce the copper. The ultimate goal is to become a zero-waste facility at both ends of the production,” officials said in the release. “And as the world continues to digitize and move toward electric and hybrid vehicles, the mine is responding to a fast-growing market.”
Per the requirement of the CED grant program, the project is expected to create or retain a minimum of 35 jobs, officials said. Also required by the program, is for those jobs to be filled by low-income individuals. NI and PM Power Group will rely on UP Michigan Works! to help achieve this.
Northern Initiatives will loan the funds to PM Power group and when repaid will create more lendable capital for similar projects. In addition, the project “exemplifies Northern Initiatives’ intentional three-prong approach to investing in small businesses,” officials said in the release.
“It’s really a win for everyone. But for NI, we see this as a triple bottom line success. Helping low-income individuals gain meaningful employment, supporting a clean environment through the reuse of landfill waste, and building a robust local economy in Ontonagon County is how we strive to invest with a sustainable impact,” Northern Initiatives President Elissa Sangalli said in the release.
As a Community Development Financial Institution, Northern Initiatives is required to support small businesses in low income areas of Michigan. Projects like the White Pine Copper Refinery help to meet that objective.
Northern Initiatives is a Community Development Financial Institution that provides loans and knowledge building services to underserved startup and growing small businesses throughout Michigan and northeast Wisconsin. Once a customer receives their loan, they have access to a suite of business services and coaching at no cost.
For more information about Northern Initiatives visit http://www.northerninitiatives.org/.