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Polymet Mining Corp. (PLM)

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Last Post: 1/17/2017 12:42:18 PM - Followers: 67 - Board type: Free - Posts Today: 0

Polymet Mining


Erie Plant formerly owned by LTV Steel Mining Company.



Tapping the potential of the Duluth Complex

The Duluth Complex contains the world's largest undeveloped deposits of non-ferrous metal. These copper-nickel-cobalt-platinum-palladium-gold deposits are in a belt stretching 30 miles just south of the eastern end of the historic Mesabi Iron Range-the major source of iron ore for the domestic steel industry for more than 100 years.

PolyMet's project is comprised of two significant assets: the NorthMet deposit and the Erie Plant formerly owned by LTV Steel Mining Company, which is an iron ore processing facility six miles west of the deposit, connected by a private railroad.


DNR: Polymet's Mining Plan Meets Standards

ST. PAUL, Minn. - The Minnesota DNR's final environmental review for Minnesota's proposed PolyMet copper-nickel mine says the company's proposal meets the state's environmental and health standards. The 3,500 page report, known as a final environmental impact statement, or EIS, is a 10 year study that found PolyMet's plan is sound enough to protect the state's natural resources.


Polymet Mining

The document says mine runoff would not reach the Boundary Waters Canoe Area Wilderness or Voyageurs National Park, which has been a concern raised by critics. It also said PolyMet would employ state of the art technology to maintain air quality and reduce harmful emissions. 

"It's been thoughtful, objective and thorough. We've really turned this upside down, inside out, backward and forward to take a look at it," said Tom Landwehr, MN DNR Commissioner.

Landwehr compared the process to an inspection when someone buys a house, pointing out strengths and weaknesses. He emphasized the environmental review is not a recommendation for the project, neither for nor against the construction of the open pit mine.

"We are truly neutral, either support or are opposed to the project," said Landwehr.

Landwehr said PolyMet would have to make sure that all cleanup costs are covered after the mine closes, which would be determined during the permitting process. The report also said wastewater treatment plans must be kept in place indefinitely.

That's the boiling point for environmental groups opposed to the project.

"We are talking about a water treatment model that is based on data the company built and the DNR has never independently verified – there is a lot to be concerned about here," said Kathryn Hoffman, Minnesota Center for Environmental Advocacy attorney.

As the DNR claims it has acted independently, Hoffman says Minnesotans shouldn't believe it's safe.

"That's right, because that claim is based on faulty data, because it's PolyMet's data," said Hoffman.

PolyMet faces an extensive process, more than 20 permits, according to Landwehr, who said it's still too premature to determine whether the project will move forward.

PolyMet President and CEO Jon Cherry called the final environmental review a huge milestone and in a press release, said "The Final EIS demonstrates that PolyMet can mine and process copper, nickel and platinum group metals in a manner that complies with the law, protects the environment and creates hundreds of high-paying jobs in northern Minnesota while creating value for shareholders."

Governor Mark Dayton visited mines in South Dakota and Michigan ahead of his decision whether to advance copper and nickel mining on the Iron Range and has described the decision as one of the most difficult he'll make in his career. He said he also require an exhaustive financial review of the company.

The $650 million dollar project would be located in the St. Louis River watershed on the eastern edge of the Mesabi Iron Range, about 6 miles south of Babbitt and about 1 mile south of the existing iron-ore Northshore Mine. Processing of the ore would take place at a former industrial site, the LTV steel plant in Hoyt Lakes.

Concerns can be addressed in a 30-day public comment period. The agency will determine early next year, likely in February, whether the review is adequate. Then the company can start applying for permits.


Providing Metals used in daily life

After years of environmental research and project development, PolyMet is poised to begin mining in Minnesota's Duluth Complex-which contains one of the world's largest undeveloped non-ferrous metal deposits.

PolyMet will mine and process metals used in daily life, including:

  • Copper - construction, plumbing and electric wiring.
    Nickel - stainless steel and rechargeable batteries.
    Cobalt - household magnets and hybrid vehicles.
    Platinum & palladium - catalytic converters that reduce automobile pollution.
    Gold - jewelry, dental and medical applications, computers and electronics.

PolyMet is working to complete the environmental review and permitting in 2010 and expects to begin construction in 2010.

The publicly traded mine development company with operational headquarters in Hoyt Lakes, Minnesota, with an executive office in Vancouver, British Columbia. Shares are traded on the New York Stock Exchange (NYSE-AMEX: PLM) and Toronto Stock Exchange (TSX: POM).

Good video...

Edina Rotary Club Meeting - Polymet Mining - 03/20/14



Minnesota DNR  Polymet Mining/Northmet Project FEIS now DONE!

US Forest Service

Links to draft record of decision issued by the US Forest Service regarding the land exchange.!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDfxMDT8MwRydLA1cj72BTUwMTAwgAykeaxRtBeY4WBv4eHmF-YT4GMHkidBvgAI6EdIeDXIvfdrAJuM3388jPTdUvyA2NMMgyUQQAyrgQmg!!/dl3/d3/L2dJQSEvUUt3QS9ZQnZ3LzZfS000MjZOMDcxT1RVODBJN0o2MTJQRDMwODQ!/?project=33908


JJ's links



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Bid Ask Day's Range
PLM News: Report of Foreign Issuer (6-k) 01/09/2017 11:47:55 AM
PLM News: U.S. Forest Service Issues Final Record of Decision Authorizing PolyMet Land Exchange 01/09/2017 11:18:00 AM
PLM News: Report of Foreign Issuer (6-k) 12/09/2016 06:02:33 AM
PLM News: Report of Foreign Issuer (6-k) 12/09/2016 06:02:32 AM
PLM News: Report of Foreign Issuer (6-k) 11/03/2016 11:38:11 AM
#5431  Sticky Note U.S. Forest Service Issues Final Record of Decision Paullee 01/09/17 11:31:27 AM
#5520   The minerals wont just come from Minnesota! Connsm 01/17/17 12:42:17 PM
#5519   I'll agree with that. I was told by Z-Axis 01/17/17 12:41:16 PM
#5518   Yup. This is why the potential loss/major waterfrozen 01/17/17 12:32:32 PM
#5517   It's the sleeping giant! Polymet is going to Connsm 01/17/17 11:35:17 AM
#5516   why should I if the pps continues to jrsh 01/17/17 10:43:53 AM
#5515   Buy more. trickledownfacists 01/17/17 10:39:19 AM
#5514   Correct. trickledownfacists 01/17/17 10:38:55 AM
#5513   I know that but look at the achievements jrsh 01/17/17 10:33:02 AM
#5512   Jrsh NAK is tied to the Pebble mine they Connsm 01/17/17 10:29:30 AM
#5511   and they still block it at 85 with jrsh 01/17/17 10:18:26 AM
#5510   which is almost 10 million bucks versus 24k jrsh 01/17/17 10:15:04 AM
#5509   I can't say that for sure but when jrsh 01/17/17 10:08:14 AM
#5508   This is Minnesota, as I call it mini Connsm 01/17/17 10:01:34 AM
#5507   When you say 'they', to whom do you Galingale 01/17/17 09:57:38 AM
#5506   you have to look at NAK, up 10% jrsh 01/17/17 09:42:30 AM
#5505   It looks like to me they are keeping Connsm 01/17/17 09:39:09 AM
#5504   no problem! jrsh 01/17/17 09:32:54 AM
#5503   Mining is now considered a green industry, because Connsm 01/17/17 09:07:55 AM
#5502   Jrsh Thanks you for the new information source! It does Connsm 01/17/17 08:44:32 AM
#5501   take your guess: jrsh 01/17/17 06:07:14 AM
#5500 Connsm 01/16/17 04:55:45 PM
#5499   Time is our friend! Connsm 01/16/17 04:44:47 PM
#5498   oh well!!! jrsh 01/14/17 05:27:12 AM
#5497   The current fleeting administration is pulling out trickledownfacists 01/13/17 07:59:44 PM
#5496   Because they have more to invest and might Galingale 01/13/17 12:06:06 PM
#5495   of course it is an assumption! we can jrsh 01/13/17 11:46:01 AM
#5494   Forgive me, but that is one assumption. It Galingale 01/13/17 11:35:34 AM
#5493   it is always the same question....why would I jrsh 01/13/17 11:15:17 AM
#5492   Drip, drip, drip! Down a cent or two Galingale 01/13/17 10:59:51 AM
#5491   The push is on to increase mining in Minnesota. Connsm 01/13/17 07:00:53 AM
#5490   if she does not manage to have a jrsh 01/13/17 04:35:38 AM
#5489   Yes Galen you are right on the environmentalist, Connsm 01/12/17 08:52:44 AM
#5488   Yes, it might well not be easy to Galingale 01/12/17 08:35:25 AM
#5487   DNR - Quarterly PolyMet Permitting Update January 11, 2017 To Connsm 01/12/17 07:50:37 AM
#5486   it wouldn't do any harm if they would jrsh 01/12/17 07:39:14 AM
#5485   Superficially, it would appear to be a plausible Galingale 01/12/17 05:47:42 AM
#5484   unfortunately that is how I see it as jrsh 01/12/17 02:48:03 AM
#5483   A quote for all the long time holders twilltell 01/11/17 05:19:19 PM
#5482   Back to same crap trading range and volume goldenager 01/11/17 04:20:09 PM
#5481   Permits update! Connsm 01/11/17 04:03:20 PM
#5480   from the MESABI DAILY NEWS: goldenager 01/11/17 01:41:27 PM
#5479   That's right. The left is suing their trickledownfacists 01/11/17 11:06:36 AM
#5478   Some of the new members on this board Connsm 01/11/17 11:00:20 AM
#5477   that is normal PLM trading. with low volume jrsh 01/11/17 10:25:13 AM
#5476   Up 7 on a volume of over 1.4m Galingale 01/11/17 10:18:45 AM
#5475   This will be shorted to .70 in a mrplmer 01/11/17 10:18:00 AM
#5474   low volume....not good! jrsh 01/11/17 09:35:02 AM
#5473   you are correct, we did not see the jrsh 01/11/17 07:58:51 AM
#5472   As you say, we are still in pennystock, Galingale 01/11/17 07:06:36 AM
#5471   I have to agree, just look at the jrsh 01/11/17 05:20:54 AM