Graham Jaehnig/Daily Mining Gazette Mike Foley, Copperwood site manager, standing stands beside a small part of the intricately engineered East Stream Diversion project in July. Early site and environmental mitigation program work was completed in Sept. 2025.

WHITE PINE — In a statement released Monday, Highland Copper Company announced it completed the sale of its 34% interest in the White Pine North Project to its joint venture partner, Kinterra Copper USA. Proceeds from the sale of White Pine will be used to fund planned Copperwood Project activities, eliminate the existing debt to Kinterra, pay for the costs of the transaction, and for general working capital.

The White Pine North Project is located in Ontonagon County, approximately 45 miles from Highlands’ Copperwood Project. Barry O’Shea, CEO of Highland Copper, said in the statement that divesting the non-controlling stake in White Pine will allow the company to focus on the Copperwood Project, which he emphasized, is fully permitted. “The divestment serves to eliminate debt and capitalize Copperwood to a construction decision,” O’Shea said in the release. “With the proceeds, we look forward to progressing detailed engineering, construction readiness and project financing through 2026.”

The Copperwood Project website states the U.S. is facing a growing copper supply deficiency driven by rising demand for clean energy technologies, electric vehicles and infrastructure projects. Securing a stable, domestically sourced copper supply is essential to reducing reliance on foreign markets and strengthening the nation’s supply chain. Investing in domestic copper production will not only enhance economic and national security but also support job creation and ensure the U.S. remains a leader in the industries of the future.

Copperwood’s statement echoes many U.S. lawmakers. On the same day Highland published its announcement, U.S. Senator Elissa Slotkin announced her support for a new bipartisan, bicameral bill that supports domestic supply chains for critical minerals to meet national and economic security needs through the creation of a new Strategic Resilience Reserve (SRR).

The bill was introduced on Jan. 15 by Senators Jeanne Shaheen (D-NH) and Todd Young (R-IN), alongside U.S. Representatives Rob Wittman (R-VA-01) and John Moolenaar (R-MI-02).

The SSR is a proposed $2.5 billion U.S. federal program aimed at securing critical mineral supply chains for national defense, energy, and technology. It functions as an independent government corporation, designed to purchase, store, and manage critical materials to stabilize prices, combat reliance on foreign adversaries like China, and support domestic production.

Specifically, the new Securing Essential and Critical U.S. Resources and Elements (SECURE) Minerals Act would establish the SRR in an independent government corporation–run by a seven-member board appointed by the President and confirmed by the Senate–to focus on supporting the critical minerals market, including through stable prices, expanding domestic and allied production capacity and recycling, stockpiles, competitive markets and supply chain work, with minerals where the U.S. is reliant on China (including rare earths, where China controls 90 percent of processing) and recycling prioritized.

“Everything from our cars to the chips in our defense systems require critical minerals,” Slotkin said. “This legislation ensures we have a plan to stockpile critical minerals, counter China and protect our economy. This is an important to step to ensure China or other hostile nations never have a veto over our national security or our economy.”