What is the story about?
What's Happening?
Kinterra Capital is set to restart the Pumpkin Hollow underground copper mine in Nevada, following an $80-million equity financing led by Lionhead. The project, previously operated by Nevada Copper, faced operational and financial challenges before Kinterra's acquisition. The Pumpkin Hollow and adjacent Southwest openpit project have the potential to supply about 228 million pounds of copper annually, meeting 5% to 6% of current U.S. demand. The project is fully permitted, debt-free, and hosts an estimated 1.7 billion pounds of copper resources. Restart activities include closing pre-existing gaps, updating geological resources, and advancing engineering standards.
Why It's Important?
The restart of Pumpkin Hollow is significant for the U.S. copper supply chain, as domestic production becomes increasingly critical amid global copper demand growth. Kinterra's investment in the project is expected to contribute to local economies, creating approximately 1,000 jobs during restart and construction, and nearly 600 permanent roles. The project aligns with efforts to secure tariff-free domestic copper supply, reducing reliance on imports. The Southwest openpit project, with a 20-year mine life, further enhances the potential for long-term copper production in the U.S.
What's Next?
Kinterra plans to complete trade-off studies and a feasibility study for the Southwest openpit project within 24 months. Key initiatives include geophysical surveys, a new geologic model, metallurgical testwork, and grid connection studies. The company is also engaging in offtake financing discussions with downstream partners. The successful execution of these plans will solidify Kinterra's position in the U.S. copper market and support the growing demand for copper in various industries.
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