Highland Copper Closes Sale of 34% Interest in White Pine for US$30 Million
Highland Copper cashes out of White Pine to go all-in on Copperwood construction
The most recent news (March 02, 2026) confirms the closing of the sale of Highland Copper’s 34% interest in the White Pine North Project to Kinterra Copper USA LLC for US$30.1 million. The transaction provides US$18.3 million in net cash after the elimination of an US$11.8 million loan previously owed to Kinterra. These funds are earmarked for the 100% owned Copperwood Project to advance detailed engineering, construction readiness, and project financing throughout 2026.
This news is Material - Positive because it fundamentally transforms the company’s balance sheet and strategic focus: - Debt Elimination: The company has completely wiped out its US$11.8 million debt to Kinterra, which was previously a significant current liability. - Non-Dilutive Capital: Securing US$18.3 million in cash without issuing new equity is a major win for existing shareholders, especially given the "trading overhang" mentioned by the CEO in January. - Strategic Simplification: By exiting the White Pine JV, Highland removes the burden of "cash calls" (funding its 34% share of expenses), which had been draining cash and forcing the company to borrow from its partner. - Focus on Flagship: The company now has the liquidity to push the 100% owned Copperwood Project toward a final investment decision (FID).
Highland Copper is focused on becoming a domestic U.S. copper producer. Its flagship is the 100% owned Copperwood Project in the Upper Peninsula of Michigan. - Status: Fully permitted (with potential minor amendments for optimizations). - Economics: 2023 Feasibility Study (updated by 2025 studies) targets an 87.6% copper recovery. - Capex: Estimated at US$400 million. - Infrastructure: Significant local and federal support, including a potential US$50M state grant for infrastructure.