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Polymet Mining Corp. (PLM)

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Last Post: 10/21/2016 3:03:36 PM - Followers: 65 - 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) 10/18/2016 12:02:31 PM
PLM News: Report of Foreign Issuer (6-k) 10/12/2016 07:56:16 AM
PLM News: Report of Foreign Issuer (6-k) 09/20/2016 04:12:07 PM
PLM News: Amended Statement of Beneficial Ownership (sc 13d/a) 09/19/2016 04:32:52 PM
PLM News: Report of Foreign Issuer (6-k) 09/15/2016 10:03:09 AM
#4549  Sticky Note Link to the latest permitting news... tdbowieknife 08/02/16 08:08:14 PM
#5012   Affirm trickledownfacists 10/21/16 03:03:36 PM
#5011   I'm beginning to believe more and more that Z-Axis 10/21/16 02:56:11 PM
#5010   Where the Hell are you Rick? By: Rick Nolan Greg444 10/21/16 02:09:20 PM
#5009   I am doing some checking right now? Greg444 10/21/16 01:58:53 PM
#5008   just tell us where you are and we jrsh 10/21/16 01:57:34 PM
#5007   Alright I am about to go in and Greg444 10/21/16 01:51:57 PM
#5006   Do you think that would be 8901 Grand Greg444 10/21/16 11:51:32 AM
#5005   Drive safe and much success for your discussion. jrsh 10/21/16 11:28:07 AM
#5004   I driving down to Duluth today, as a Greg444 10/21/16 11:24:24 AM
#5003   Might well be, but who knows, probably I jrsh 10/21/16 10:47:07 AM
#5002   Do you think someone attempted a positive trend Greg444 10/21/16 10:33:14 AM
#5001   Almost back where we started yesterday! jrsh 10/21/16 10:31:09 AM
#5000   Good morning Greg444 10/21/16 10:20:44 AM
#4999   Morning Greg, jrsh 10/21/16 09:15:12 AM
#4998   keep looking mate. I'm off for today. jrsh 10/20/16 04:48:23 PM
#4997   Rick? Greg444 10/20/16 04:45:38 PM
#4996   Some have come after 5:00 PM. I did Greg444 10/20/16 04:45:15 PM
#4995   Just having fun. No press releases so far Greg444 10/20/16 04:42:01 PM
#4994   those google translations can sound real funny, sometimes :-) jrsh 10/20/16 04:40:36 PM
#4993   OK, sorry, but we have still summer time, jrsh 10/20/16 03:01:00 PM
#4992   One hour Greg444 10/20/16 02:58:42 PM
#4991   so just another 2 minutes to go??? :-) jrsh 10/20/16 02:57:54 PM
#4990   Invariably, if there is a publicized news piece Greg444 10/20/16 02:49:27 PM
#4989   True Greg444 10/20/16 02:46:31 PM
#4988   each spike the last months was artificial! so jrsh 10/20/16 02:38:38 PM
#4987   vielleicht ein paar Insider gehört some? :) Greg444 10/20/16 02:36:44 PM
#4986   I hope that it is not artificial ! Greg444 10/20/16 02:33:20 PM
#4985   this is not the typical PLM trading today. jrsh 10/20/16 02:22:40 PM
#4984   HA!! ;) Z-Axis 10/20/16 01:31:07 PM
#4983   OK, just raise to 83 and let's see jrsh 10/20/16 01:29:31 PM
#4982   It was .81 when I raised my bid Z-Axis 10/20/16 01:25:59 PM
#4981   it went from 80 to 84 on just jrsh 10/20/16 01:23:38 PM
#4980   Maybe they're just trying to get me to Z-Axis 10/20/16 01:17:22 PM
#4979   make that 8% and this with just 76k volume. jrsh 10/20/16 01:13:12 PM
#4978   what is going on? jrsh 10/20/16 12:53:07 PM
#4977   Polymet is having a open house on Ely 10/20/16 12:36:44 PM
#4976   I will stop in there tomorrow Greg444 10/20/16 12:04:37 PM
#4975   :-)) jrsh 10/20/16 11:55:01 AM
#4974   German's are cool too! Greg444 10/20/16 11:53:38 AM
#4973   Well done, Greg. Not sure whether any fellow Galingale 10/20/16 11:52:30 AM
#4972   Hahaha, I'm German, I hope that is not jrsh 10/20/16 11:52:16 AM
#4971   I'm assuming your a Canadian? But you may Greg444 10/20/16 11:36:10 AM
#4970   No problem my fellow mining investor and North American! Greg444 10/20/16 11:34:27 AM
#4969   Thanks mate for the great local insight!!! jrsh 10/20/16 11:32:23 AM
#4968 Greg444 10/20/16 11:23:31 AM
#4967   I had a Nolan campaign worker at my. Greg444 10/20/16 11:19:51 AM
#4966   Expected by late September? Nolan? Periman? By: Rick Nolan Greg444 10/19/16 06:04:03 PM
#4965   HA!! I try ;) Z-Axis 10/19/16 05:22:07 PM
#4964   Good one Zenner! :) Greg444 10/19/16 05:11:03 PM
#4963   Well... you see... that was my bad. I Z-Axis 10/19/16 05:07:14 PM