Copperwood (Cu, Ag)

Royalty and Terms: 1.5% NSR royalty on copper production, and an 11.5% NSR royalty on silver production at both Highland Copper’s Copperwood and White Pine projects. At Osisko’s election, the silver royalty percentage may be increased to 100% on Copperwood and White Pine for a payment of US$23 million.
Operator:  Visit Highland Copper for more information
Primary Commodity: Copper, Silver
Location: Michigan, USA
Reserves and Resources:
  • Proven and probable reserves of 801.8 Mlbs CuEq (25.4 Mt @ 1.43% Cu, 3.83 g/t Ag)
  • Measured and indicated resources (exclusive of reserves) of 875.2 Mlbs CuEq (23.9 Mt @ 1.66% Cu, 3.64 g/t Ag)
  • Inferred resources of 1,315.0 Mlbs CuEq (51.5 Mt @ 1.16% Cu, 3.38 g/t Ag)
  • LOM Avg.: 61.7 Mlbs CuEq


  • The company has recently raised C$25 million to advance the asset
  • Feasibility study update expected in 2Q 2022
  • Project financing and construction decision

More details in the 2022 Asset Handbook


Source: Company disclosure and Osisko management estimates.