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IRONWOOD -- The advocacy group Protect the Porkies has made a statement regarding the $50 million grant Highland Copper recently received from the Michigan Strategic Fund:
"On (Tuesday), the Michigan Strategic Fund -- a board of unelected businesspeople -- voted to approve the use of 50 million taxpayer dollars to advance the Copperwood Mine," read their statement.
"The funding had been three times denied through plain old democracy, so this fourth time the MSF employed a deceptive backdoor strategy to bypass votes from elected officials by allocating left-over funds from a completely different project.
"This move was quite likely illegal and unconstitutional. We will get it overturned, but only if key decision-makers hear from us in unprecedented numbers."
According to reporting done by Bridge Michigan, the $50 million dollar grant was from the now defunded Strategic Operating and Attraction Reserve Fund. That money had been allocated for a different project in 2022, which didn't go through. Because that money had been previously allocated, it does not require legislative approval as other previous, failed attempts by Highland Copper to secure state funds have.
Protect the Porkie's statement includes a call for supporters to contact their state legislators regarding the MSF, file a complaint with Michigan Attorney General Dana Nessel, contact the State Senate Appropriations Committee and contact the State Ethics Board to demand a hearing.
The full statement can be accessed at protecttheporkies.com/take-action.
Highland Copper has also released a statement regarding the grant.
"The final grant approval followed a thorough review of the Copperwood Project and was recommended by the Michigan Economic Development Corporation, reflecting the importance of the Project's development to the Upper Peninsula and the Company's approach to responsible mining," read their statement.
"The funding will be provided through performance-based reimbursements for eligible site readiness and infrastructure expenditures, including roads, power and communications infrastructure required to advance Copperwood. These investments are also expected to deliver broader regional benefits through improved transportation, utility infrastructure and cellular and broadband connectivity."
"This funding also represents an important milestone in the overall project financing," said Highland Copper CEO Barry O'Shea. "With this grant secured, in addition to the Letter of Interest from the U.S. Export Import Bank, Highland's capacity to finance Copperwood is considerably strengthened."
The full statement can be accessed at www.highlandcopper.com/news/highland-copper-announces-final-approval-of-us50-million-grant-from-the-state-of-michigan-for-copperwood-project/.
The MEDC grant is dependent on Highland Copper raising an additional $150 million on or before March 31, 2028.
Annie Lippert can be reached at 906-228-2500, ext. 550. Her email address is alippert@miningjournal.net.