Former Michigan Strategic Fund board member blasts decision to fund UP’s Copperwood Mine

The Michigan Strategic Fund Board approved $50 million for site preparation at the Copperwood Mine in the Upper Peninsula, sidestepping the Legislature — which had repeatedly failed to appropriate a separate $50 million the board approved for the same project back in 2024. Former board member Cindy Warner objects that the agency reused funding approvals from unrelated projects she voted on, insisting her approvals were never meant to be transferable.

Michigan Economic Development Corporation officials say the new money traces to a 2022 budget supplemental for 'site readiness' that never required legislative sign-off, freed up when other projects it was earmarked for fell through — though officials also admit most of that pool was never actually brought before the board at all. Warner and environmental advocates note the mine's parent company, Copperwood Resources, still hasn't secured the $150 million in financing required under the 2024 terms, and now has until March 2028 instead of the original 2025 deadline.

The company points to a nonbinding letter of interest for $250 million from the Export-Import Bank as evidence it intends to eventually qualify.

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