Southwest Critical Materials
At Kinterra, we believe in global citizenship and creating more equitable access to opportunities for future generations of leaders, thinkers, and innovators across the globe.
Kinterra’s Fund I strengthened its U.S. copper portfolio in late 2024 with the acquisition of the Southwest Open Pit Project, one of the nation’s most advanced, fully permitted undeveloped copper assets. Positioned for long-term growth and strategic importance, the project combines scale, strong economics, and a clear path toward construction.
Investment Highlights
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Project Overview
In late 2024, Kinterra’s Fund I acquired the Southwest Open Pit project through its portfolio company Southwest Critical Materials LLC via a Chapter 11 bankruptcy process. The project is a large-scale, fully permitted open-pit copper development project in the Prefeasibility Stage (PFS) and represents one of the most advanced undeveloped copper projects in the United States, with 5.2 billion pounds of contained copper (5.0B of M&I and 0.2B of Inferred). It is among the few fully permitted open-pit copper assets in the country not controlled by a major mining company and is positioned to advance toward construction.
A 2019 PFS outlined a mine plan with an initial throughput of 37,000 tons per day, expandable to 70,000 tons per day, averaging 163 million pounds of copper production annually over a 19-year mine life in addition, the project also boasts a MI&I resources containing 916koz of gold and 31Moz of silver. The study also demonstrated a robust post-tax NPV of $1.5 billion, with additional exploration potential offering further upside. The project is being advanced to Feasibility Stage. With strong community support, a skilled workforce, and a clear permitting framework, the Southwest Open Pit is positioned to become a cornerstone source of U.S. copper production.
Strategic Holdings
Our strategic holdings represent critical material projects and associated infrastructure that are essential to the modern economy. We invest in assets with scale, resilience, and clear development pathways, working alongside strong local partners to unlock long-term value.
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NiVolt Technologies Inc. is a proprietary company of Kinterra, focused on advancing next-generation critical minerals processing solutions for the clean energy economy. By developing a scalable platform for producing high-purity nickel and cobalt products, NiVolt is positioned to play a critical role in strengthening the battery materials supply chain for electric vehicles and energy storage.
In 2023, Kinterra’s Fund I secured a majority stake in White Pine Copper LLC, positioning the firm at the forefront of one of the largest undeveloped copper projects in the United States. Building on a legacy of historic production, the White Pine North Project combines scale, existing infrastructure, and strong community roots to advance a new chapter in Michigan’s Upper Peninsula mining history.
The Pumpkin Hollow underground copper mine in Nevada is a permitted, restart-stage asset with 2 billion pounds of copper resources, established infrastructure, and strong community support, and is positioned to deliver long-life, reliable North American production.