Name of the Project
White Pine North copper project.

Location
The project is located in the historical copper range district of the upper peninsula of Michigan, in the US.

Project Owner/s
Highland Copper Company is acquiring the project from First Quantum subsidiary Copper Range Company, subject to several conditions including releasing Copper Range from certain environmental obligations pertaining to the historical mine.

Project Description
The White Pine North copper project is the extension of the historical White Pine mine that operated from 1953 to 1995.

The project has a life-of-mine (LoM) of 25 years, including one year of ramp-up, with an average LoM payable copper production of 89-million pounds a year and 1.3-million ounces of silver a year.

The project’s preliminary economic assessment envisions that the deposit will be mined using a conventional highly mechanised, drill-and-blast room-and-pillar mining method.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of $557.2-million and an internal rate of return of 19.2%, with a payback of 5.2 years from the start of processing.

Capital Expenditure
Initial capital expenditure is estimated at $456.8-million.

Planned Start/End Date
Upon receipt of the required permits and necessary approvals, a 48-month mine development, construction and commissioning period is foreseen, followed by 24 years of commercial production.

Latest Developments
Pending the final closing of Highland’s acquisition of White Pine North, Highland has started mineral exploration and baseline studies under an agreement with Copper Range.

Key Contracts and Suppliers
G Mining Services (PEA and mineral resource estimate).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Highland Copper Company, tel +145 0677 2455 or email info@highlandcopper.com.