Kinterra Capital and Lionhead Invest $80 Million in Pumpkin Hollow Copper Mine's Restart

Kinterra Capital and Lionhead's $80 Million Commitment to Copper Production

In a significant development for the U.S. mining industry, Kinterra Capital Corp. has successfully secured an $80 million investment led by Lionhead for the Pumpkin Hollow Copper Mine. This strategic equity financing, completed in the second quarter of 2025, is set to catalyze the restart of this underground mine located in Nevada. The funds will not only support the reopening of Pumpkin Hollow but also push forward the adjacent Southwest Open Pit project towards construction readiness.

Cheryl Brandon, the Co-Managing Partner at Kinterra, emphasized the importance of this investment: "We're witnessing pivotal milestones not just for our growing copper portfolio, but also for the U.S. copper supply chains. Over the next two years, we anticipate having a functioning underground mine generating cash flow along with a shovel-ready open-pit project. Collectively, these assets could produce approximately 228 million pounds of copper annually, which equates to about 5-6% of the current demand in the United States. Domestically sourced copper is crucial for energy security, advanced manufacturing, artificial intelligence, and national defense."

Paul Quirk, Co-Founder and Managing Partner at Lionhead, echoed the sentiment by stating how this partnership embodies Lionhead’s strategy to invest in high-quality assets that demonstrate a clear path to restart. He remarked, "We’re proud to collaborate with Kinterra, leveraging our operational experience and mining expertise to ensure a reliable domestic copper supply during a critical period for the U.S."

Restart Plans for Pumpkin Hollow

The Pumpkin Hollow project boasts over $800 million worth of installed infrastructure, positioning it favorably for a restart of copper production within the next two years. This site contains an estimated 1.7 billion pounds of copper resources, is fully permitted, and does not carry any debt or streaming obligations. Kinterra's immediate focus is to address existing gaps and engage in comprehensive data collection and engineering updates across all disciplines to meet industry standards. Their efforts will involve updating geological resources, employing advanced core scanning technology to enhance mineral identification, and refining geological interpretations.

Efforts are also underway to finalize offtake financing discussions with downstream partners, ensuring that the supply chain remains robust.

Southwest Open Pit Project

While reviving Pumpkin Hollow, Kinterra plans to undertake critical trade-off studies and complete a Feasibility Study for the Southwest Open Pit project within the same timeframe. This project houses approximately 3.6 billion pounds of copper and is anticipated to have a lifespan of 20 years. It has received all necessary project permits, with the feasibility study already in progress, utilizing geophysical surveys and construction of a sophisticated three-dimensional geological model expected to be completed by Q3 2025.

The company is also looking at grid connection studies with NV Energy and conducting cultural site evaluations to ensure all aspects are accounted for before starting operations.

Contributions to U.S. Supply Chain

The combination of Pumpkin Hollow, the Southwest Open Pit, and the recently acquired Antler Copper Project in Arizona aims to create a stable and tariff-free domestic copper supply. With rising global demand for copper anticipated until 2035 and domestic supply deficits widening, American production is increasingly vital. Kinterra's strategy could potentially support local economies by creating around 1,000 jobs throughout the restart and construction phases, along with nearly 600 permanent roles during regular operation.

As Kinterra continues to push for innovative investments, its commitment to sustainable and efficient mining practices stands to make a meaningful impact on the U.S. copper supply landscape, positioning it firmly within a critical industry at a pivotal time.