Nevada Copper and associated Reno-based copper mining companies had their US Chapter 11 proceedings recognized under Part IV of the CCAA on June 21, 2024. The companies reported liabilities amounting to $493.1 million, with secured liabilities totaling $279.2 million, of which $188 million is owed to a syndicate led by KfW IPEX-Bank GmbH. Their operations focused primarily on developing the Pumpkin Hollow project, situated about 90 kilometers southeast of Reno, Nevada.

Nevada Copper Corp. (TSX), incorporated in British Columbia with no business operations or assets there, faced significant challenges in 2022. Geotechnical issues halted mining operations in the third quarter of 2022. Although ore processing restarted in October 2023, intermittent pauses for commissioning complications prevented continuous operations, thwarting their goal of declaring commercial production in the fourth quarter of 2023. This disruption led to a substantial shortfall between available cash and funding needs, as the companies failed to generate operating revenue.

Despite initiating a marketing and sale process, the companies could not finalize a binding transaction within a viable timeframe. The proceedings involved various legal advisors: Torys for the companies, Miller Thomson for the directors, Cassels for the information officer, BLG for Trisura Guarantee Insurance Company, McCarthy Tétrault for KfW IPEX-Bank GmbH, Bennett Jones for Mercuria Investments, and Blakes for the DIP lenders. A&M served as the information officer.