Highland Copper's Air Permit Approval: A Green Light for Copperwood Project

Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) has received a significant boost for its Copperwood Project with the approval of its updated air permit application by the Michigan Department of Environment, Great Lakes, and Energy (EGLE). This approval, which replaces the 2018 version, allows the project to supplement its main electrical supply with on-site generators when needed, ensuring a reliable and efficient energy strategy for operations. The approval process included a public comment period ending December 10, 2024, and a virtual public hearing on October 30, 2024, with EGLE's Air Quality Division formally approving the application on February 27, 2025.

The updated air permit approval is a testament to Highland Copper's commitment to responsible and sustainable operations, as the project has been designed to meet rigorous environmental standards and operate responsibly within the community. This approval is a crucial milestone for the Copperwood Project, which is one of few fully-permitted copper projects in the US and stands ready to take advantage of strong long-term copper fundamentals.

The approval of the updated air permit has several positive implications for the project's financing prospects and potential partnerships. Firstly, the regulatory compliance and risk mitigation demonstrated by the approval can make the project more attractive to potential investors and lenders. The project's commitment to environmental stewardship, as evidenced by the thorough scrutiny and engagement with stakeholders during the approval process, can enhance its reputation and appeal to environmentally conscious investors and potential partners. Additionally, the alignment of the project with Michigan's vision of electrification and regional support for local communities can make it more appealing to state and local authorities, as well as potential investors and partners looking to support projects that align with regional development goals.

Furthermore, the approval of the air permit increases the likelihood of receiving the proposed $50 million Michigan Economic Development Corporation State grant. This grant can significantly reduce the initial capital expenditure required for the project, making it more attractive to potential investors and partners. The strong social license to operate demonstrated by the resolutions of support from local communities further enhances the project's prospects for state funding.

In conclusion, the approval of the updated air permit for the Copperwood Project is a significant milestone for Highland Copper, demonstrating the project's commitment to responsible and sustainable operations. This approval, along with the project's alignment with Michigan's vision and strong social license to operate, enhances the project's financing prospects and potential partnerships. As Highland Copper continues to advance the Copperwood Project toward a construction decision, investors and partners can be confident in the project's long-term sustainability and potential for success.