Southwest Critical Materials, an affiliate of private equity firm Kinterra Capital, has acquired the Pumpkin Hollow copper project from Nevada Copper.
In August, Nevada Copper entered into a stalking horse asset purchase agreement with Southwest Critical Materials after voluntarily filing for Chapter 11 bankruptcy in June.
With this acquisition, Kinterra now controls more than 11 billion pounds of copper across its portfolio of projects in the United States.
“This acquisition aligns with Kinterra’s focus on investing in upstream energy transition minerals and infrastructure assets where there are strategic opportunities to take advantage of significant value dislocation,” said Cheryl Brandon, co-managing partner at Kinterra.
“Our ability to execute on complex transaction structures in a nimble and effective manner, all within a technically complex sector, differentiates our team and permits us to capitalize on high-value opportunities like Pumpkin Hollow.”
Moving forward, Kinterra said it will leverage its technical expertise and operational excellence to advance the multiple assets within the Pumpkin Hollow package, aligning the projects with its first-class sustainability standards and key stakeholder interests.
Pumpkin Hollow is located seven miles southeast of Yerington, Nev., within Lyon County. It spans 22,862 acres and consists of two primary assets: a large-scale, permitted, open-pit copper project and a fully constructed underground copper mine with significant, recently constructed infrastructure.