{
  "id": 7430990,
  "title": "Milford Mining gets $25M funding to expand Utah facilities",
  "url": "https://urgent.news/2026/09/14/milford-mining-gets-25m-funding-to-expand-utah-facilities",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-14T23:45:06.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/milford-mining-gets-25m-funding-to-expand-utah-facilities/"
  },
  "original_language": "en",
  "account": "The Milford Mining Company Utah (MMCU) has secured a conditional commitment of $25 million from the U.S. Department of Agriculture Rural Development Business & Industry Loan Guarantee Program. This funding is earmarked to support the company's planned expansions in its mining and processing operations within Milford, Beaver County. MMCU's facilities are capable of producing copper cathode and concentrate, alongside tungsten, antimony, and other rare earth elements from its 62,000-acre property. The mine, which had been dormant for years, was revived by MMCU in 2023. The company intends to utilize the funds to double its copper output by the end of the following year, thereby generating approximately 100 additional jobs in rural Utah, augmenting its existing workforce of 180 employees. The proposed arrangement spans 16.5 years and will be privately financed through a division of Kentucky-based Magnolia Bank. Upon the successful completion of the financing, the investment will support critical capital improvements, including modernization of processing equipment, elimination of bottlenecks, and improved efficiency, effectively doubling the company's production capacity. Roger Barris, MMCU's chairman, expressed that this financing marks a significant milestone for the company's long-term operations in Utah. The investment will not only bolster the company's capacity to supply copper and other essential minerals to American industry but also foster new job creation and continued economic prosperity in the region.",
  "summary": "The Milford mine was idled for years, but reopened under MMCU management in 2023.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}