TRAVERSE CITY, Mich. (AP) — The leading partner in a planned zinc and gold mine in Michigan’s Upper Peninsula says it’s putting the project on hold.
Toronto-based Hudbay Minerals Inc. said Friday it’s suspending development at the Back Forty Project on the Menominee River. Hudbay owns 51 percent of the venture, while Aquila Resources Inc. has a 49 percent stake.
Hudbay spokesman John Vincic says the company’s decision was based on commitments at three other projects. He says the company plans no further investments toward development of Back Forty and will work with Aquila to determine its future.
Aquila President Tom Quigley says he still expects the mine to be built. The next step is to seek a state environmental permit.
The EagleHerald of Menominee and Marinette, Wis., first reported Hudbay’s decision.
