Interactive Brokers Advertisement
Home > Boards > US Listed > Mining/Resources >

Polymet Mining Corp. (PLM)

Add PLM Price Alert      Hide Sticky   Hide Intro
Moderator: tdbowieknife
Search This Board: 
Last Post: 11/17/2017 12:39:29 PM - Followers: 67 - Board type: Free - Posts Today: 2

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



Interactive Brokers Advertisement
Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
PLM News: Report of Foreign Issuer (6-k) 09/22/2017 11:03:43 AM
PLM News: Report of Foreign Issuer (6-k) 09/15/2017 03:05:36 PM
PLM News: Minnesota Releases Draft Dam Safety Permits for PolyMet Copper-Nickel Project 09/15/2017 02:04:00 PM
PLM News: Report of Foreign Issuer (6-k) 09/15/2017 08:41:33 AM
PLM News: PolyMet Reports Second Quarter Fiscal 2018 Results 09/15/2017 08:21:00 AM
#7818  Sticky Note Moderator note: Again... tdbowieknife 09/15/17 08:39:25 PM
#8156   I’m holding 50% of PLM for a long freshfrom/pol/ 11/17/17 12:39:28 PM
#8155   puzzled but still hoping :-) jrsh 11/17/17 03:26:22 AM
#8154   Nak goes down by TDay mrplmer 11/16/17 05:56:43 PM
#8153   It will happen. I've got more invested waterfrozen 11/16/17 03:50:50 PM
#8152   I guess so.... well, fingers crossed for the freshfrom/pol/ 11/16/17 03:44:43 PM
#8151   I am more apt to buy into day waterfrozen 11/16/17 03:42:49 PM
#8150   Short sales and environmentalist goofs? Greg444 11/16/17 03:31:08 PM
#8149   That corporation being Glencore? I just don't waterfrozen 11/16/17 03:26:55 PM
#8148   We all know it is being held at Greg444 11/16/17 03:18:13 PM
#8147   How do you monitor this information? Or freshfrom/pol/ 11/16/17 03:17:08 PM
#8146   Funny you mention this... waterfrozen 11/16/17 02:51:30 PM
#8145   We wonder why we can not get a Greg444 11/16/17 02:39:22 PM
#8144   Al Franken stories abound today. Let's get rid mrplmer 11/16/17 02:28:12 PM
#8143   To add to this conversation about why nothing freshfrom/pol/ 11/16/17 01:35:59 PM
#8142   I haven't followed Plm so closely the last jrsh 11/16/17 01:09:27 PM
#8141   Yup I would agree with you. waterfrozen 11/16/17 12:32:15 PM
#8140   didn't we all think that this will end jrsh 11/16/17 12:31:47 PM
#8139   People that have attempted to hold PLM long Greg444 11/16/17 12:27:51 PM
#8138   Why would there be demand?Everybody has been punched Greg444 11/16/17 12:08:53 PM
#8137   He still brings in down to .61 almost Greg444 11/16/17 12:06:59 PM
#8136   I have given up on waiting for a Greg444 11/16/17 12:04:05 PM
#8135   okok, but look at the volume, our old jrsh 11/16/17 12:01:29 PM
#8134   Because bag holders know that this is going waterfrozen 11/16/17 11:59:13 AM
#8133   Because this whole project hinges on the pending Greg444 11/16/17 11:57:27 AM
#8132   Because the land swap is being held up trickledownfacists 11/16/17 11:56:09 AM
#8131   even without PR.....why the heck is nobody buying???? jrsh 11/16/17 11:53:04 AM
#8130   Yeah. Permit to mine, land swap, and financial trickledownfacists 11/16/17 11:20:02 AM
#8129   Yeah, I read the article this morning, but Z-Axis 11/16/17 11:12:23 AM
#8128   It's in this article... Z-Axis 11/16/17 11:10:30 AM
#8127   Thanks Greg444 11/16/17 10:57:19 AM
#8126   It's at the bottom of the article trickledownfacists 11/16/17 10:56:47 AM
#8125   Will you guys attach the link for me? Please... Greg444 11/16/17 10:55:18 AM
#8124   Made the news today trickledownfacists 11/16/17 10:48:55 AM
#8123   Yeah, I read that too... I wonder why Z-Axis 11/16/17 10:32:21 AM
#8122   3 final permits already in hand trickledownfacists 11/16/17 10:13:06 AM
#8121   I wonder if our beloved Rice Lake City waterfrozen 11/16/17 09:08:39 AM
#8120   With a police presence in the area, a trickledownfacists 11/16/17 08:34:49 AM
#8119   Here's a nice article about Polymet from our Z-Axis 11/15/17 04:19:47 PM
#8118   County Road 4 will put you in the Greg444 11/14/17 04:13:06 PM
#8117   Can't see my yard from the road but Mean Weimaraner 11/14/17 04:09:31 PM
#8116   Here is how we do it in Minnesota! Greg444 11/13/17 07:17:07 PM
#8115   Some asswagon still Buying this down! Greg444 11/10/17 01:47:19 PM
#8114   Cool, Thanks for the info. Greg444 11/10/17 12:20:23 PM
#8113   Looks like we can ask him directly next freshfrom/pol/ 11/10/17 12:02:40 PM
#8112   Unfortunately, this has been my suspicion as well! Greg444 11/09/17 04:11:29 PM
#8111   I find it strange this gets through and trickledownfacists 11/09/17 03:50:43 PM
#8110   How does Emmer’s Bill can make it through Greg444 11/09/17 03:41:09 PM
#8109   I have written mine all ready. Come on Greg444 11/09/17 03:17:19 PM
#8108   I wonder if Wisconsin's move will light a trickledownfacists 11/09/17 12:47:46 PM
#8107   Thanks Zenner Greg444 11/09/17 11:27:50 AM