ACTION #1: Operation GRATITUDE

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On September 16th, the Export-Import Bank of the United States announced a Letter of Interest (LOI) to provide $250 million in debt financing for the advancement of the proposed Copperwood Mine. The EXIM Bank is the official export credit agency of the United States. 

The LOI is non-binding, meaning there is no commitment to follow through with the funding, but the decision may ultimately be determined by what we do next.

$250 million would constitute a massive bailout for a failing junior company with only $12 million in the bank; it would provide a significant portion of the $450 million the project needs to get up and running; and it would catalyze an avalanche of fresh private investment. So it's time to mobilize!

Communicate to the EXIM Bank's chief decision-makers that the proposed Copperwood Mine is an extremely risky and dubious investment due to the tremendous opposition from around the state and nation. 

Tell them that financing a foreign-owner operation to create a small handful of boom-and-bust jobs and ship the copper out of country with no promise of return is entirely antithetical to their mission.

Convince them to rescind their Letter of Interest (LOI).

Below you will find all the instructions you need to participate in this action, including:

• Contact information for the top decision-makers
• Possible arguments
• A sample message

The more of us they hear from, the more seriously they will take us!

The following list includes the top decision-makers at the EXIM Bank. Please copy / paste the full list into the To: field of an email message.

mariel.huasanga@exim.gov,
info@exim.gov,
james.burrows@exim.gov,

Such as:

• "Major concerns regarding LOI to Highland Copper"
• "Deny debt financing to Highland Copper"
• "Copperwood: A Risky Investment"
• etc.

Your message may be as short as a single sentence: "I urge you to deny the $250 million in debt financing to Highland Copper," but it will become more persuasive through the inclusion of a few of the following arguments to emphasize the RISK of the project, the IMMENSE SCOPE OF THE OPPOSITION, and its INCOMPATIBILITY WITH EXIM'S MISSION.

NOTE: There is no need to include all of these points in your message. Please include those upon which you feel most comfortable discussing.

1. The EXIM Bank state that its mission is "to support American job creation... by unlocking financing solutions for U.S. companies competing around the globe." But Highland Copper is not a U.S. company — they are an inexperienced Canadian company seeking to develop a highly opposed copper sulfide mine immediately adjacent to Michigan's most beloved State Park, with 30+ million tons of toxic mine waste to be stored in unprecedented proximity to Lake Superior. Furthermore, a wealth of research shows that mines are more likely to harm the economy in the mid- and long-term (1,2). To quote Harvard Economist James Stock, former presidential advisor: "In 89% of cases copper mining ends up being a negative for jobs and incomes."  The jobs at Copperwood would last for a maximum of 10.7 years, though many would be six-month contracts. In the end, this mine will leave the area poorer than it started.
   
2. The scope of opposition to this project is enormous. 468,000 people — largely from the state of Michigan — have signed a petition opposing its development, and over 100 organizations signed a letter opposing state funding for the project, including the Michigan League of Women Voters, the Michigan Environmental Council, the Michigan Sierra Club, and the Michigan League of Conservation Voters, as well as five Tribal Nations.
   
3. The state of Michigan has THREE TIMES denied the use of $50 million to help the project advance: twice in 2024 (1,2) and again in 2025.
   
4. This report from the Keweenaw Land Association — the company leasing the Copperwood mineral rights — states (page 13): "There are a number of factors weighing against near-term development of the Copperwood Project and as a result, the Copperwood Project could face significant delays and ultimately prove to be unprofitable or fail to yield the expected cash revenues."
   
5. An independent auditor's report states that there is significant doubt about the Company’s ability to continue as a going concern; that the project is subject to a number of risks and uncertainties; and that an investment in Highland involves significant risks and should be considered speculative.
   
6. Although refined copper has been named as a "critical mineral" by the U.S. Geological Survey, mined copper is still listed at a negative risk: thus, no undersupply of raw copper; thus, no need to accelerate the development of new mines, especially those inspiring the ire of Tribal Nations, 100+ organizations, and hundreds of thousands from around the state and nation.
   
7. The copper in question would be shipped out of country — to Canada, Europe, or Asia (p 19-3) — where it would enter the international market with no promise of return to the USA.
   

Of course, you may also elaborate on some of the material on our home page.

You may adapt the following message to your liking. This is a minimal sample which may be supplemented with some of the specific arguments above.
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"To the Export Import Bank of the United States:

I urge you to deny the $250 million in debt financing for Highland Copper's Copperwood Mine.

This highly controversial mine is opposed by hundreds of thousands from around the state of Michigan and beyond due to its extreme proximity to Porcupine Mountains State Park — ranked as the most beautiful in the entire country — and Lake Superior, this continent's largest, cleanest source of surface freshwater.

Supporting this risky project is not consistent with the EXIM Bank's mission of assisting American companies and creating sustainable jobs. Highland Copper is an inexperienced Canadian company; their chief investor, Orion Mine Finance (28%), is based in the Cayman Islands and has a $1.2 billion joint venture deal with the United Arab Emirates; and the small handful of 10.7-year boom-and-bust jobs will not meaningfully benefit the economy, but may actually harm it, as suggested by a wealth of research.

Mined copper is still listed at a negative risk by the U.S. Geological Survey, meaning no undersupply, and thus no need to accelerate the development of a widely opposed project at an abominable location in the hands of an inexperienced foreign company.

Please stand with the people of Michigan and the United States and rescind the Letter of Interest as soon as possible.

Thank you for your consideration."

Please share this action with others. Thank you!