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Highland Copper, Copper Range extend anew White Pine deal completion

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Highland Copper, Copper Range extend anew White Pine deal completion

Highland Copper Co. Inc. and Copper Range Co. agreed once again to extend the deadline for the former to complete its previously announced acquisition of the White Pine copper-silver project in Michigan to Nov. 30.

According to an Aug. 31 release, final closing is subject to the release of certain environmental obligations associated with the remediation and closure plan of the historical White Pine mine site, as well as the replacement of a related environmental bond posted by Copper Range.

Highland Copper said it is now in discussions with the Michigan Department of Environmental Quality to finalize the documentation required for the transfer of the environmental obligations, and the form of financial assurance required pursuant to the Natural Resources and Environmental Protection Act.

The two companies have repeatedly extended the period to close the deal, which was signed in 2014.