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Polymet Mining Corp. (PLM)

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Last Post: 4/26/2017 6:41:02 PM - Followers: 64 - Board type: Free - Posts Today: 22

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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Current Price
Bid Ask Day's Range
PLM News: Report of Foreign Issuer (6-k) 05:02 PM
PLM News: Report of Foreign Issuer (6-k) 04/21/2017 07:31:38 AM
PLM News: PolyMet Reports Fiscal 2017 Results 04/21/2017 07:30:00 AM
PLM News: Notice of Iran-related Disclosure Filed Pursuant to Section 13(r)(3) of the Exchange Act (irannotice) 04/21/2017 06:03:32 AM
PLM News: Annual Report (foreign Private Issuer) (40-f) 04/20/2017 04:49:24 PM
News News Alert: Report of Foreign Issuer (6-k) 04/26/2017 05:02:46 PM
#5431  Sticky Note U.S. Forest Service Issues Final Record of Decision Paullee 01/09/17 11:31:27 AM
#6181 Greg444 04/26/17 06:41:02 PM
#6180   Is there something inherently fubared with Poly? Greg444 04/26/17 04:22:22 PM
#6179   I think in the end there will be Greg444 04/26/17 02:15:34 PM
#6178   Following this closely as well. Very interesting process. trickledownfacists 04/26/17 02:11:14 PM
#6177   There is fresh information coming out and the Greg444 04/26/17 02:02:05 PM
#6176   This is a good board. The best board Greg444 04/26/17 12:50:47 PM
#6175   Thanks for the information guys. Most of these Plm1 04/26/17 12:44:11 PM
#6174   Hay Zenner! I wish Cherry could get up Greg444 04/26/17 12:43:13 PM
#6173   I remember that point in history as well. Greg444 04/26/17 12:36:04 PM
#6172   The chart does not lie. The PPS waterfrozen 04/26/17 12:32:20 PM
#6171   I guess in a way you were right! Greg444 04/26/17 12:23:02 PM
#6170   I guess my point is that unless there waterfrozen 04/26/17 12:15:48 PM
#6169   yep that is the very sad history. jrsh 04/26/17 12:04:28 PM
#6168   have a look here jrsh 04/26/17 11:45:30 AM
#6166   You can see some here for free, Z-Axis 04/26/17 11:40:05 AM
#6165   Noted, Thank you for your input! It looks Greg444 04/26/17 11:33:44 AM
#6164   Do you know where we a guy can Plm1 04/26/17 11:32:35 AM
#6163   Agree! Did he know a flaw in the Greg444 04/26/17 11:15:55 AM
#6162   This is a brief history of key events waterfrozen 04/26/17 11:08:39 AM
#6161   I totally agree the Range (and U.S. market) Z-Axis 04/26/17 09:58:02 AM
#6160   I'm in the same boat, Greg, a loaded Z-Axis 04/26/17 09:53:01 AM
#6159   Interesting? I'll look into it. Thanks! GL Connsm 04/25/17 10:25:44 PM
#6158   United States Steel - talk is they are Greg444 04/25/17 09:19:33 PM
#6157   I would like to know who is this Connsm 04/25/17 09:12:18 PM
#6156   Noted, Thank you for your input. I am Greg444 04/25/17 09:10:57 PM
#6155   Greg, We are hearing some of the same things. Plm1 04/25/17 08:51:24 PM
#6154   " Variable Time Frame" = "Death by Greg444 04/25/17 07:21:08 PM
#6153   I Agee! My measly thoughts: Poly cannot make it Greg444 04/25/17 07:12:23 PM
#6152   IMHO we are less than 60-90 days away Plm1 04/25/17 07:09:43 PM
#6151   Companies like PLM only go public to raise Plm1 04/25/17 06:52:42 PM
#6150   One more comment: One thing that really drives Greg444 04/25/17 05:58:28 PM
#6149   Zenner this is not so good news for Greg444 04/25/17 05:16:52 PM
#6148   I did some more checking CLF comes out Greg444 04/25/17 04:57:33 PM
#6147   US Steel (X) released earnings and guidance... it Z-Axis 04/25/17 04:53:34 PM
#6146   Good news for Plm holders Greg444 04/25/17 04:33:40 PM
#6145   Update: CLF and X are going south in Greg444 04/25/17 04:31:49 PM
#6144   I have always held the enviornweirdos as suspects. Greg444 04/25/17 04:26:54 PM
#6143   Record setting stocks yesterday and today and polymet waterfrozen 04/25/17 04:01:40 PM
#6142   At some point... the manipulation of the stock Plm1 04/25/17 03:56:02 PM
#6141   So the next “big” news prior to the goldenager 04/25/17 01:14:31 PM
#6140   i believe most know i stand with you goldenager 04/25/17 01:11:47 PM
#6139   but always remember, it is just speculation but jrsh 04/25/17 12:59:42 PM
#6138   I do, and go back a read them Greg444 04/25/17 12:55:55 PM
#6137   most don't want to hear or believe it! jrsh 04/25/17 12:54:21 PM
#6136   Jrsh has been explaining his theory for a Greg444 04/25/17 12:15:29 PM
#6135   Somebody is working really hard on keeping the Connsm 04/25/17 12:11:59 PM
#6134   Fine insight. Very interesting words by Dayton indeed. goldenager 04/25/17 11:38:54 AM
#6133   Yes we all need to keep our expectations Connsm 04/25/17 09:29:52 AM
#6132   Just keep your expectations in check and realistic. waterfrozen 04/25/17 08:40:49 AM
#6131   IMHO the price will appreciate significantly as soon Plm1 04/24/17 10:56:13 PM