MADISON, Wis. (AP) — Aquila Resources plans to sell its interests in copper and gold deposits in northern Wisconsin to a start-up company for about $5.8 million.

The Toronto-based company wants to focus on building its proposed Back Forty mine near the Menominee River in Michigan's Upper Peninsula. If the sale is approved, Aquila would receive nearly $2.5 million in cash and an ownership share of the new company worth about $3.3 million.

(Copyright © 2021 APG Media)

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