White Pine Mine Purchase Delayed

The proposed purchase of the White Pine Mine by Highland Copper Company has been delayed again. Highland Copper officials announced recently that the deadline to complete the purchase from the Copper Range Company has been extended until early September. The sticking point appears to be contract language that would release Copper Range from any liability associated with the historic White Pine Mine, which produced four billion pounds of copper from the Nonesuch Lode between 1955 and 1995. Highland hopes to begin a new mine in an adjacent portion of the Lode. The maturity date of a 10-million Canadian dollar loan made to by Osisko Gold Royalties to Highland to assist with the purchase has also been extended again, until mid-June.