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Polymet Mining Corp. (PLM)

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Last Post: 12/3/2016 6:50:45 PM - Followers: 66 - 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



JJ's links



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Current Price
Bid Ask Day's Range
PLM News: Report of Foreign Issuer (6-k) 11/03/2016 11:38:11 AM
PLM News: Amended Statement of Beneficial Ownership (sc 13d/a) 11/01/2016 06:11:55 AM
PLM News: Report of Foreign Issuer (6-k) 10/28/2016 02:06:40 PM
PLM News: Report of Foreign Issuer (6-k) 10/28/2016 06:04:23 AM
PLM News: Report of Foreign Issuer (6-k) 10/18/2016 12:02:31 PM
#5130  Sticky Note Permit to mine has just been submitted!! Z-Axis 11/03/16 11:00:53 AM
#5332   The people of Minnesota reject Obama's attempt to Connsm 12/03/16 06:50:45 PM
#5331   The manipulator drop 50,000 share at the start! Connsm 12/02/16 10:56:04 AM
#5330   Under heavy fire again today!!! jrsh 12/02/16 10:24:54 AM
#5328   Gotta love all the variable time frames and waterfrozen 12/01/16 03:35:18 PM
#5327   DNR timetable was updated today... Z-Axis 12/01/16 02:39:52 PM
#5326   No prob, just glad to contribute... hopefully we'll Z-Axis 12/01/16 11:25:31 AM
#5325   Actually right now we are down to what jrsh 12/01/16 11:25:30 AM
#5324   Thanks for the information!!! jrsh 11/30/16 11:26:07 AM
#5323   I'm just reading the Business North and Frank Z-Axis 11/30/16 10:30:25 AM
#5322   Poll finds Northeastern Minnesota support for copper mining A trickledownfacists 11/29/16 04:19:52 PM
#5321   Stewart Mills requesting a recount today.... trickledownfacists 11/29/16 12:32:54 PM
#5318   OK, I remember that conversation and sorry for jrsh 11/28/16 02:08:51 PM
#5317   I apologies. Here is my copy of the Connsm 11/28/16 02:00:34 PM
#5314   thanks, this is a game witch has the jrsh 11/28/16 01:04:59 PM
#5313   Well no permits have been approved and they trickledownfacists 11/28/16 01:01:12 PM
#5312   so we have another possible game stopper here? jrsh 11/28/16 12:31:46 PM
#5311   Copper still continuing to be hot. goldenager 11/28/16 12:21:00 PM
#5310   Agreed, everyone is waiting on the new political trickledownfacists 11/28/16 11:00:36 AM
#5309   You need to do your homework on the Connsm 11/28/16 10:55:52 AM
#5308   Again low volume and again 93% sells so far. jrsh 11/28/16 10:26:17 AM
#5307   yep, that is correct! jrsh 11/27/16 04:22:43 AM
#5306   Soros was against gold last year! It's amazing Connsm 11/26/16 05:59:22 PM
#5305   Today the glass was half full not empty. Connsm 11/23/16 05:04:10 PM
#5304   not too bad for what could have turned jrsh 11/23/16 04:27:46 PM
#5303   Yep, it was pretty obvious that this will jrsh 11/23/16 10:56:29 AM
#5302   Well, here is the sell off we've been waterfrozen 11/23/16 10:25:49 AM
#5301   The Chinese and India have skin in this game! Connsm 11/22/16 07:37:20 PM
#5300   The next milestone is getting the permits approved, Galingale 11/22/16 11:49:56 AM
#5299   Thanks for the information! jrsh 11/22/16 11:36:47 AM
#5298   I guess that waiting for an announcement is Galingale 11/22/16 11:23:23 AM
#5297   Does anybody else feel like being under the jrsh 11/22/16 10:05:37 AM
#5296   It looks like Polymet is gaining interest! Connsm 11/21/16 10:05:32 PM
#5295   Seems the only reasonable explanation because nothing else jrsh 11/21/16 11:37:45 AM
#5294   Yes I think they are trying to get waterfrozen 11/21/16 11:28:53 AM
#5293   Yes it is. jrsh 11/21/16 11:12:37 AM
#5292   I know, right? Isn't it usually 100 waterfrozen 11/21/16 11:06:22 AM
#5291   How long can they defend those 90??? jrsh 11/21/16 10:55:15 AM
#5290   Who in his right mind would buy 40k jrsh 11/21/16 10:46:28 AM
#5289   Thanks for that. To put this into perspective Galingale 11/18/16 11:33:55 AM
#5288   fine insight galingale. i may be joining goldenager 11/18/16 11:02:43 AM
#5287 jjeeddoo7 11/18/16 10:30:47 AM
#5286   I have sent them an email as well jrsh 11/18/16 07:19:59 AM
#5285   I wrote to the Forest Service in June, Galingale 11/18/16 06:08:46 AM
#5284   yes, I was waiting for this to happen jrsh 11/18/16 03:35:25 AM
#5283   i was thinking that the correction/manipulation would happen goldenager 11/17/16 05:52:42 PM
#5282   again another slow day. the long overdue land jrsh 11/17/16 04:32:32 PM
#5281   JJ How do you think the new Trump administration Connsm 11/17/16 11:30:19 AM
#5280   Thinking that the Forest Service people are sitting jrsh 11/17/16 10:49:35 AM
#5279   Back to crappy volume. Let’s see if goldenager 11/16/16 03:22:48 PM
#5278   As per our last post we have laws Connsm 11/16/16 09:50:33 AM