Highland Copper Release Copperwood Mine Economic Impact Study

The Highland Copper Company reveals estimates on the economic impact of the Copperwood Mine in Gogebic County. The company asked Public Sector Consultants from Lansing to conduct a study based on its construction analysis and operational plans. If the project was to continue on schedule, and Highland Copper was able to source funding, the Copperwood Mine would spend 425 million dollars on construction and with vendors during the phase over three years; generating an estimate of 4.5 million dollars in local, county and state tax revenue annually. Construction will also add approximately 74 million dollars in gross product to the Michigan economy during the three years.

While operating the mine the company projects an increase of spending with Michigan businesses by 130 million dollars annually; generating 12 million dollars in tax revenue annually while operational.

Highland Copper CEO Barry O’Shea says, that Highland Copper is committed to contributing positively to the Upper Peninsula’s communities’ economies while creating jobs for residents. While construction of the mine continues Highland Copper’s recent study suggests that the phase will support 450 plus direct jobs; indirectly adding 353 plus to the state. While operational the Copperwood Mine should add 380 jobs to the Wakefield area, with an estimate of creating another 313 indirect jobs within the region. O’Shea added that Highland Copper looks forward to adding to the United States’ domestic copper supply. You can find a full copy of Highland Copper Company’s economic impact press release here.