Three companies formed in Detroit in 1874 to work the island's copper deposits, but only the Minong Mining Company operated. It began serious work in 1875. In its first operating year, the settlement had six dwellings, a store, an office and 50 employees. A dock and warehouse at McCargoe Cove linked lake steamers to a two-mile route into the mine settlement, served by a tug and flatboats.
The company mostly quarried open pits, though it sank two shafts, one 300 feet deep. It built a steam-powered stamp mill using water from a 12-foot log dam on a Chickenbone Creek tributary. Production declined after 1879 as lower-grade rock proved uneconomic, and the mine closed in 1885.