Mining companies are hoping to create a critical minerals hub in the water-rich Midwest.
Talon Metals, a Minnesota-based exploration company, announced late Thursday that it will purchase the nation’s only nickel mine — the Eagle mine in Michigan’s Upper Peninsula — from Lundin Mining, as well as a nearby mill where nickel and copper ore from the mine are processed and eventually sold into the global market to make stainless steel and electric vehicle batteries.
As part of the deal, Lundin will have an almost 20 percent stake in Talon, a subsidiary of Talon Metals Corp., which is based in the British Virgin Islands.
The purchase is part of Talon’s broader effort to pump out more copper, nickel and other metals across the Great Lakes region and beyond as demand for metals and materials ramps up.
