Screw it, double down man.
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Shares of PolyMet Mining Corp. (NYSE:PLM) were the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,290,828 shares, a decrease of 2.6% from the March 31st total of 3,379,459 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 148,150 shares, the days-to-cover ratio is currently 22.2 days. Currently, 1.7% of the company’s stock are short sold.
BILL HANNA Executive Editor
ST. PAUL — The PolyMet Mining Corp. closed out its fiscal year on Jan. 31 having invested more than $27 million into the NorthMet copper/nickel/precious metals project on the Iron Range.
The company’s financial report shows $27.153 million being pumped into the nonferrous venture near Hoyt Lakes, which is an increase of about $2 million compared to the previous year.
The company also pared its losses by nearly $1 million from the prior year — $7.276 million compared to $8.132 million.
The company, as of Jan. 31, had spent $85.4 million on environmental review and permitting, of which $78.9 million has been allocated since the project moved from exploration to development.
PolyMet’s President and CEO Jon Cherry said that the company had a successful fiscal year in moving to get the NorthMet project permitted and operational.
“Our 2015 fiscal year demonstrated significant progress as a result of a tremendous amount of hard work on the part of the PolyMet team and its technical and legal advisers as well as by the various state and federal government agencies and their advisers and consultants.
“We continue to enjoy
strong support for the project statewide and especially on the Iron Range, where we can strengthen and diversify the economy of northeastern Minnesota and continue its mining heritage,” Cherry said.
PolyMet’s president and CEO said significant public comments on the plan — 58,000 received — will only make the project better.
“Complete and thorough analysis and review of the extensive comments on the SDEIS (supplemental draft environmental impact statement) has been essential in order for the co-lead agencies to develop a robust final EIS and lay the basis for permits to be issued.
“This groundwork places PolyMet in a strong position as we progress through completion of permitting, arranging finance and then to the ultimate objective of building and operating the NorthMet Project,” Cherry said.
The company’s goals and objectives for the new fiscal year were also laid out by Cherry:
• Publication of the final EIS in the Minnesota Environmental Quality Board Monitor and Federal Register, which is anticipated this summer.
• Submission of permit applications about the same time as publication of the EIS.
• Decision on state permits within 150 days of application under state guidelines.
• Decision on the wetland permit and land exchange.
• Completion of the definitive cost estimate and project update.
• Construction finance plan, including commitment of debt prior to issuance of permits.
Cherry said at the Laurentian Chamber of Commerce’s annual meeting in January that the final permits for the poject should be secured sometime in the final quarter of 2015.
“And when we have them (permits) ... we intend to have a shovel in the ground late this year,” he said.
The project will generate about 2 million construction hours during a 15-month period, while the long-term benefits include creation of more than 900 direct and indirect jobs, including 350 positions on site, and $515 million annually in economic benefit to the region, according to the company.
http://www.virginiamn.com/news/local/polymet-ceo-fiscal-year-successful/article_c58a6ca6-ea30-11e4-8d77-9b16af71b3f8.html
I'd like to see the company actually work on something instead of just stopping all operations and sitting in hands until SEC sends out a letter.
Interesting...
DNR: Northshore mine expansion doesn't need full environmental study
By John Myers Today at 11:16 a.m.
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The proposed expansion of Northshore Mining's giant Peter Mitchell taconite iron ore mine near Babbitt won't need a full-fledged environmental impact study.
THE MINNESOTA DEPARTMENT OF Natural Resources announced Thursday that the expansion of the Cliffs Natural Resources property can proceed after a cheaper and less time-consuming environmental assessment worksheet.
Environmental groups had pushed for the full environmental impact statement. But DNR officials said they made the decision based on the extent of anticipated environmental effects, potential cumulative impacts and past studies of other projects that can help predict likely impacts.
The project includes mining an additional 108 acres and constructing an engineered stockpile to manage sulfur-bearing waste rock. That's the kind of rock that, when exposed to air and water, can spur acidic runoff that can leach heavy metals out of the landscape.
The expansion will allow the Northshore operations to continue five to 10 additional years, although the mine is expected to operate another 70 years, the DNR noted.
The company now can seek permits to begin construction of the expansion. The project is subject to ongoing regulatory authority by the DNR, the Minnesota Pollution Control Agency and the U.S. Army Corps of Engineers.
Taconite that is mined in the pit is moved by train to Silver Bay, where it's processed into pellets at the Northshore facility, formerly Reserve Mining Co., before being moved by boat to steel mills on the Great Lakes.
PolyMet Mining Corp.
TSX : POM
NYSE MKT : PLM
April 21, 2015 17:32 ET
PolyMet Reports Fiscal 2015 Results
ST. PAUL, MINNESOTA--(Marketwired - April 21, 2015) - PolyMet Mining Corp. (TSX:POM)(NYSE MKT:PLM) today reported that it has filed its financial results for the year ended January 31, 2015. PolyMet controls 100 percent of the development-stage NorthMet copper-nickel-precious metals ore-body and the nearby Erie Plant, located near Hoyt Lakes in the established mining district of the Mesabi Iron Range in northeastern Minnesota.
The financial statements have been filed at www.polymetmining.com and on SEDAR and EDGAR and have been prepared in accordance with International Financial Reporting Standards ("IFRS"). All amounts are in U.S. funds. Copies can be obtained free of charge by contacting the Corporate Secretary at First Canadian Place, 100 King Street West, Suite 5700, Toronto, Ontario M5X 1C7 or by e-mail atinfo@polymetmining.com.
Highlights of Year to January 31, 2015
Completion of the public review and comment period on the supplemental draft Environmental Impact Statement (SDEIS) on March 13, 2014.
U.S. Environmental Protection Agency EC-2 rating of the SDEIS, the highest rating for a mine proposal, so far as we are aware.
The Minnesota Department of Natural Resources (MDNR), the U.S. Army Corps of Engineers and the U.S. Forest Service (the Co-lead Agencies) made substantial progress on responding to the 58,000 public comments received on the SDEIS. In October 2014, the Commissioner of the MDNR indicated at a public meeting that he thought preparation of the final EIS would be completed in the spring of 2015.
PolyMet advanced its Definitive Cost Estimate and Project Update.
PolyMet secured a $30 million loan facility from Glencore, which is expected to fund the company through fiscal 2016. PolyMet received the first tranche of $8 million prior to January 31, 2015 and the second tranche of $8 million on April 15, 2015. The remaining $14 million is scheduled to be drawn in two further tranches on or before July 1, 2015 and October 1, 2015. Glencore also agreed to a one-year extension of $25 million initial principal convertible debentures, originally issued in 2008, that were due September 30, 2014.
Reviewing the year, Jon Cherry, President and CEO of PolyMet stated, "Our 2015 fiscal year demonstrated significant progress as a result of a tremendous amount of hard work on the part of the PolyMet team and its technical and legal advisors as well as by the various state and federal government agencies and their advisors and consultants. We continue to enjoy strong support for the project statewide and especially on the Iron Range, where we can strengthen and diversify the economy of northeastern Minnesota and continue its mining heritage."
Cherry continued, "Complete and thorough analysis and review of the extensive comments on the SDEIS has been essential in order for the Co-lead Agencies to develop a robust final EIS and lay the basis for permits to be issued. This groundwork places PolyMet in a strong position as we progress through completion of permitting, arranging finance and then to the ultimate objective of building and operating the NorthMet Project."
Goals and Objectives for Year to January 31, 2016
Publication of the final EIS in the Minnesota Environmental Quality Board Monitor and the Federal Register, which PolyMet anticipates will be in the summer of 2015.
Submission of permit applications around the same time as publication of the final EIS.
Decision on state permits within 150 days of application under state guidelines.
Records of Decision on the federal 404 Wetland Permit and the Land Exchange.
Completion of the Definitive Cost Estimate and Project Update.
Construction finance plan including commitment of debt prior to the issuance of permits but subject to typical conditions precedent, such as receipt of permits.
Financial Highlights of FY 2015
Loss for the year ended January 31, 2015 was $7.276 million compared with $8.132 million for the prior year period. General and administrative expenses excluding non-cash stock-based compensation in the year ended January 31, 2015 were $4.368 million compared with $4.957 million in the prior year period.
At January 31, 2015 PolyMet had cash and cash equivalents of $9.301 million compared with $32.790 million at January 31, 2014.
PolyMet invested $27.153 million into its NorthMet project during the year ended January 31, 2015, compared with $25.224 million in the prior year period.
As of January 31, 2015 PolyMet had spent $85.4 million on environmental review and permitting, of which $78.9 million has been spent since the NorthMet Project moved from exploration to development stage.
Key Statistics
(in '000 US dollars, except per share amounts)
Balance Sheet
January 31, 2015
January 31, 2014
Cash & equivalents $ 9,301 $ 32,790
Working capital (deficit) (see note) (31,672) 30,095
Total assets 313,229 287,525
Total liabilities (see note) 120,853 91,193
Shareholders' equity 192,376 196,332
Note: $33.451 million convertible debt shown as short-term liability although PolyMet anticipates the term will be extended or the debt will be converted on or before September 30, 2015.
Year ended Jan 31,
Income Statement
2015
2014
General & administrative expense excluding non-cash share-based compensation
$
4,368 $
4,957
Non-cash share-based compensation $
1,121 $
1,697
Other Expenses $
1,787 $
1,478
Income (loss) before tax
$
(7,276) $
(8,132)
Recovery of future income tax $ - $ -
Income (loss) per share
$
(0.03) $
(0.04)
Investing Activities NorthMet Property
$
27,153 $
25,224
Weighted average shares outstanding
275,726,953
236,303,304
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a publicly-traded mine development company that owns 100 percent of Poly Met Mining, Inc., a Minnesota corporation that controls 100 percent of the NorthMet copper-nickel-precious metals ore body through a long-term lease and owns 100 percent of the Erie Plant, a large processing facility located approximately six miles from the ore body in the established mining district of the Mesabi Range in northeastern Minnesota. Poly Met Mining, Inc. has completed its Definitive Feasibility Study and is seeking environmental and operating permits to enable it to commence production. The NorthMet project is expected to require approximately two million hours of construction labor, creating approximately 360 long-term jobs, a level of activity that will have a significant multiplier effect in the local economy.
POLYMET MINING CORP.
Per: Jon Cherry, CEO
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities mentioned in this release. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended. These securities described in this release have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent an effective registration statement covering such securities or an applicable exemption from such registration requirements.
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.
Specific reference is made to PolyMet's most recent Annual Report on Form 20-F for the fiscal year ended January 31, 2015 and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission for a discussion of some of the risk factors and other considerations underlying forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
http://www.marketwired.com/press-release/polymet-reports-fiscal-2015-results-tsx-pom-2012069.htm
Trading has resumed in Toronto, not the states.
http://www.minnpost.com/politics-policy/2015/04/dayton-dayton-unbound-get-used-it
There are things Dayton expects to come up that he cannot predict or completely plan for. One issue he knows will come to a head while he’s governor is the clash between environmentalists and mining interests on the Iron Range.
By the end of the year, a final environmental impact statement will be complete on the controversial copper-nickel mining project PolyMet, in Hoyt Lakes. Pro-mining interests want to see the project go forward to create jobs, a pressure that has increased in recent weeks as taconite mining operations in Northeastern Minnesota have shed employees. But environmentalists say the mining operation, the first of its kind in the region, could spoil the area’s pristine lakes for hundreds of years to come.
Immediately after session, Dayton plans to ask advocates of PolyMet to give him examples of similar proposals that have worked, and he’ll ask opponents to give him examples of projects that have failed. Then he’ll travel to each of those projects to formulate his final opinion. No matter what happens, Dayton knows it’s going to be an “extremely explosive issue” that will consume his final years in the the executive office. “It’s going to be one of the most — perhaps the most — contentious issue in my two terms. I’ve seen the kind of extreme passions it arouses on both sides, with the Boundary Waters and other issues of resource use. Ninety-five percent of the people who are engaged in that issue now, their minds are already made up,” he said. “I want jobs for Northeastern Minnesota and I want strong environmental protection for Northeastern Minnesota, and I’ve always believed the two are complementary objectives and they can be mutually obtainable objectives if we put our minds to it.”
TORONTO, April 16, 2015 /CNW/ - Trading resumes in:
Company: North American Palladium Limited
TSX Symbol: PDL (all issues)
Resumption (ET): 11:30
North American Palladium to resume at 8:30 a.m. PT
2015-04-16 11:15 ET - Resume Trading
North American Palladium Ltd. will resume at 8:30 a.m. PT on April 16, 2015.
© 2015 Canjex Publishing Ltd. All rights reserved
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:PDL-2268343&symbol=PDL®ion=C
That the news release
Trading resumes at 8:30 pacific time.
News pending halt
Polymet to have a booth at Earth Fest in Northern MN.
http://www.virginiamn.com/news/local/a-green-machine/article_7ac3883e-e3e0-11e4-a474-07e52d8fc148.html
PolyMet CEO: Copper can help Iron Range diversify
You could understand why the mood might be dour at the annual Society for Mining, Metallurgy and Exploration conference in Duluth this week.
With the price of iron ore less than half what it was when last year’s conference was held, layoffs rampant and foreign steel flooding the U.S.economy, the 600 or more regional mining industry folks gathered here weren’t exactly whooping it up.
But Jon Cherry, president and chief executive officer of PolyMet Minerals, said copper may be the balm that soothes what ails northern Minnesota’s mining industry.
Iron ore that sold for $180 per ton in 2011 and $100 one year ago now is going for about $47. And while Cherry said he understands his brothers and sisters in the iron ore mining industry are facing “difficult challenges” with predictions of sub-$40-per-ton iron ore prices, he was happy to proclaim that “these are exciting times for PolyMet” and copper in Minnesota.
Cherry, the conference’s closing plenary speaker, said his company is projecting that both global supply and demand for copper will remain relatively stable through 2017 before both start to increase. In the meantime, he predicts stable prices, and nothing like the free-fall of iron ore prices, on the horizon for copper.
Demand for copper has grown by an average of 3 percent annually over the past 30 years, with only two years — 1990 and 2001 — where it didn’t go up, Cherry said. Moreover, global supply, while predicted to increase with new mines, has remained mostly flat, leaving the market “in balance.”
Building a copper mining industry in Minnesota will help smooth out the ups and downs of the iron ore industry that is much more cyclical, Cherry told the conference
“The opportunity to diversify and bring more metals into the mining economy up here is a great opportunity” for Northeastern Minnesota, Cherry said.
Once it’s up and running, and that could be within two years, the proposed PolyMet copper mine and processing center near Hoyt Lakes would have a $500 million economic impact on the region each year for 20 years or more.
“That’s like a Super Bowl coming to St. Louis County every year for the next 20 years. And that’s just PolyMet. That’s not including any other’’ proposed copper projects.
Cherry said demand for copper will only intensify as emerging economies in China, Brazil and India turn more of their citizens into middle-class consumers demanding housing, electricity, vehicles, smartphones and jobs — all of which need a lot of copper.
Combined with increased use in the U.S. from renewable energy, mainly wind and solar, Cherry sees solid demand for whatever copper PolyMet might produce.
So far, Cherry’s assessment of copper’s fate seems close. Copper sat at about $2.74 per pound Wednesday, up from a recent low of $2.45 in January although still down 40 percent from the post-recession high of $4.50 in 2011. But copper remains well above the long-term average of $1 to $1.50 per pound in the 1990s and early 2000s.
Copper industry analysts have been saying copper prices heavily depend on the Chinese economy. China uses about 45 percent of all copper mined in the world.
But not everyone agrees with Cherry that copper supply and demand are in equilibrium. The Thomson Reuters GFMS copper report issued Wednesday predicted that increasing production and softer demand growth would lead to a nearly 400,000 metric ton overcapacity of copper this year, up from a surplus of 316,000 tons last year.
“While we remain cautious of the risks, our central view is that the market’s oversupplied position is likely to become increasingly apparent in the coming months as demand growth disappoints and supply rises,’’ the report notes.
Cherry said he expects to see his project’s final environmental review released by June with permits issued for the PolyMet project later this year. He said the company is advancing engineering of the project and is talking with multiple banks about loans to build the project quickly after permits are approved.
The annual Society for Mining, Metallurgy and Exploration conference was held at the Duluth Entertainment Convention Center. The three-day event that ended Wednesday attracted mining industry officials, engineers, students, researchers, suppliers and vendors from across the region.
http://www.duluthnewstribune.com/news/iron-range/3723683-polymet-ceo-copper-can-help-iron-range-diversify
There would have to be a shareholder payout if that's the case, yes??
Settling....
A lot of stop losses executed, shorts shorting...
Twin metals story all over again. Dives on questionable existence, bought out at .36
Price, or to whom?
Any thoughts in a sale??
Wow, interesting pre market movement....
"It would not affect PolyMet Mining Corp., which has proposed a controversial copper-nickel development near Hoyt Lakes, because it lies outside the affected watershed." ....Quote from anti mining bill being proposed...
Finally they print the truth about which watershed Polymet is in. Not the boundary waters..... Notice the change in attacks away from Polymet and towards other projects further behind. There is now an understanding within the Governmental bodies that Polymet has paid it's dues and is going through..... This is what's going on, Polymet is the test subject. Almost $300 million spent to proceed. If your project can do the same, you can play, if not we will bankrupt your company and drag you through litigation. If other companies can't match what they have done, they won't try, and if they do they will die. This sets up Polymet to be the premier copper mine in the area. Still going to be some vocal opponents but it's about to proceed.
http://m.startribune.com/politics/statelocal/299778801.html
Antofagasta CEO: Copper Surplus to Disappear in 2015
Tuesday April 14, 2015, 11:13am PDT
According to a report from Reuters, Antofagasta’s (LSE:ANTO) new CEO, Ivan Arriagada, sees the surplus in the copper market disappearing this year. That prediction comes on the back of issues with production output in the copper space.
As quoted in the publication:
Analysts had anticipated seeing the first surplus in years in 2015, to the tune of 500,000 to 600,000 tonnes copper, but production stoppages, such as those caused by recent heavy rains and mudslides in northern Chile, have curtailed those estimates.
“What we’ve seen is that the surplus has been disappearing and we’re probably talking about a market that is virtually in balance,” Ivan Arriagada told Reuters in one of his first media interviews since assuming as CEO in February.
Antofagasta’s flagship Los Pelambres mine in central Chile lost 8,500 tonnes of refined copper production earlier this year after protests by local villagers blocked access to the mining complex.
This thing has been chunking away for awhile now. Solid few months of consistent gain.
Thanks for the update.
The dis information will continue to rise. False statements and smear campaigns will commence in full force!... Enviro groups are getting millions in funding to try and stop ANY development. It's a huge business for them. Stand strong, inform your neighbors.
Minnesota Environmental Partnership (MEP) announcing mining poll results today
We want you to be aware that a St. Paul-based environmental group called Minnesota Environmental Partnership, whose leadership is anti-mining, later today will share results of a statewide public opinion poll regarding copper-nickel mining in Northeastern Minnesota. As we’ve shared with you before, these groups are working hard to create doubt and confusion in Minnesotans. Those efforts are only expected to grow as we near completion of the environmental review process and begin permitting.
We know that the majority of Minnesotans want responsible mining as well as the jobs that come with it. Mining and tourism and outdoor recreation have co-existed in northeastern Minnesota for more than a century. We will build on that heritage by bringing much needed middle-class jobs to northeastern Minnesota in addition to diversifying the mining economy. And we will meet all applicable state and federal regulations to protect the environment.
Get more project facts and the latest news on our website.
We’d also enjoy your support of our project as we move closer to permitting:
Support PolyMet Mining. Share a little info with us so we can keep you updated when it matters most.
@GoPolyMet #PolyMet
polymetmining.com
PolyMet (NYSE MKT: PLM; TSX: POM) is a publicly traded mine development company with operational headquarters located near the mine in Hoyt Lakes, Minnesota, and executive offices in St. Paul
The governor is tiptoeing around this subject. He will have a press release for the Adrian Peterson debacle but not for the largest industry in the state?? Weak leadership, no backbone. I guess being married to a Rockefeller takes it out of you..
Sector with highest jobless need shortchanged
Yet governor can’t say we’d be better off if Range had copper/nickel/precious metals
The governor’s bonding bill proposal is very aggressive — really too aggressive — for a session when a massive transportation measure, which is his signature initiative, awaits action in the final six weeks of the legislative session along with finalization of a two-year budget of about $40 billion.
Gov. Mark Dayton announced the $842 million proposal on Tuesday and touted it as a job-creator and a needed investment in the state’s capital infrastructure. The governor is projecting that his bill would add nearly 24,000 jobs statewide.
That most likely will not happen.
House Republicans, who hold the majority in that chamber, have already said no to the measure in what is a typical non-bonding bill session. And even Senate DFLers don’t appear to have much of an appetite to bite into a bonding bill this session — a small appetizer of projects maybe; but not so much a full-blown measure such as Dayton’s that would carry $78 million of debt service.
While the governor’s bonding bill this session may be a moot point, we still find it disheartening that out of six regional sectors in the state, northeastern Minnesota trails in dollars that would be allocated and jobs created by the measure.
And this comes at a time when the more than 1,150 mining layoffs will soon increase the northeastern Minnesota sector’s jobless rate even more. It’s a region that has consistently had a higher unemployment rating — considerably at times — than the overall state’s level.
The governor said his bonding bill was crafted and finalized two weeks ago in advance of the announcement of 700 layoffs at Minntac and that if that devastating jobs news on the Range was known beforehand, northeastern Minnesota might have received more projects through an adjustment.
Would more state bonding projects help the region amid the mining downturn? Well, they certainly wouldn’t hurt.
But what the Iron Range and northeastern Minnesota really need is a more diversified economy — both overall and also within the mining industry.
When the governor traveled to the Range and visited with steelworkers last Saturday, he took some questions from reporters for a few minutes.
He was asked by the Mesabi Daily News if it would be better if at times like this the Range would have both taconite and copper/nickel/precious metals mining to lean on for jobs?.
The governor, who has refused for years now to publicly support or oppose the PolyMet and Twin Metals nonferrous ventures near Hoyt Lakes, Babbitt and Ely, simply waved off the question as if it was inappropriate for the moment. “Not talking about that today,” is all he would say.
Governor, we strongly disagree and believe so, too, do most Iron Rangers and also a solid majority of all Minnesotans.
Anytime we can have more diversity in the region’s economy, that is good for the Range, for its workers and communities and for the entire state.
Those minerals — iron ore/taconite and copper/nickel precious metals — feed different products. But they have one very important thing in common — they generate much-needed jobs on the Iron Range.
It was such an easy question, with what should have been an easy and supportive answer for the region.
It’s really too bad the Range didn’t hear it from the governor last Saturday.
I wouldn't call - 1.5% tanking...
PAL receiving 25% off all energy bills in Ontario indefinitely.... Notice talk of expansion and job creation.
http://www.cbc.ca/news/canada/thunder-bay/ontario-gives-northern-industry-permanent-relief-from-energy-costs-1.3023613
Pretty glaring hit piece...
http://m.startribune.com/lifestyle/health/298840211.html
The political forces are still grinding away..
Won't make it but would love to hear what you hear.
Local paper opinion piece....
Local View: A single mining job pays a lifetime of dividends
I grew up one of six children here in northern Minnesota, and my father was employed with Reserve Mining in Silver Bay. Growing up in a mining town, I never really thought of mining as anything but a normal, regular industry; and quite possibly I took for granted that it would always be there.
We grew up fishing, camping and swimming in the Boundary Waters Canoe Area Wilderness. We grew up planting trees for the U.S. Forest Service to help fund our college. We would plant as many as 200,000 trees a year and spend endless days enjoying the beautiful forests.
Saying all this, I never would support something such as PolyMet Mining if I thought it would harm our environment. I can honestly say there is no one who loves nature and the wilderness more than me. I feel blessed to see some of the trees I planted so many years ago now being harvested for this generation.
We need to either grow it or mine it if northern Minnesota is going to provide for future generations.
My parents raised six children, and all six went on to some sort of higher education — all because of one mining job.
All six children went on to get married, and all six children and their spouses currently live, work and pay state income taxes to Minnesota — all due to one mining job.
My parents were blessed to have eight grandchildren. All of these grandchildren have married, and all of the grandchildren and their spouses currently live, work and pay state income taxes in this state — again, all due to one mining job.
I have owned my own company in Duluth since September 1992. I have employees and currently pay in a tremendous amount of state income taxes. I have put two children through college, with one currently attending the University of Minnesota. One additional child most likely will attend a university within the state. Again, all of this is due to one mining job.
My brother lives in Minneapolis and has created a company that provides well over 100 high-paying engineering jobs. His company builds grain elevators and other things all over the world, including at Cargill Inc. — all due to one mining job.
Just think about how many of us were brought up in a similar way. If our father had lost that one mining job, we would have had to move away when I was still young. I am quite sure none of us would be living in Minnesota now, paying taxes, and raising the next generations to live in this great state.
I support mining, specifically PolyMet Mining. We all use the metals PolyMet proposes to mine in our daily lives. I think that, as a state, we have to support the efforts of mining these metals in a responsible nature that will support our future generations to be able to work, pay taxes, and raise their families in this wonderful state.
Never underestimate the power of one mining job.
Kirk D. Haldorson of Duluth runs Haldorson and Pincombe Investment Advisors, a 23-year-old firm.
Switching their focus to twin metals.....
Canoeists' plea for the BWCA - Winona Post > Article
Lisa Pugh and two other canoe guides are biking from Winona to Ely, Minn., to protest a proposed mine on the edge of the Boundary Water Canoe Area. Their trip starts with a kickoff party at the Boat House Restaurant in Levee Park tomorrow.
by CHRIS ROGERS
Tomorrow, Winona will be the starting point for a very long bike ride and a campaign against a proposed copper-nickel mine on the edge of the Boundary Waters Canoe Area Wilderness (BWCA). Three women who work as canoe guides in Ely, Minn., are riding bicycles — and towing a Winona-made canoe — from Winona to Ely to rally support for federal and state regulation that would block the mine.
After a kickoff party in Winona tomorrow, Erin McCleary, Iggy Perillo, and Lisa Pugh will ride 725 miles, zig-zagging across central Minnesota for rallies before pedaling north to Duluth, Two Harbors, and Ely. The three women lead canoeing, backpacking, and dogsledding trips at Voyageur Outward Bound School, including programs for school groups, delinquent youth, grieving teens, and military veterans. Their bike trip is part of a battle in Northern Minnesota, St. Paul, and Washington, D.C., over development near one of the nation's most-visited wilderness areas and the future of jobs in the arrowhead.
Twin Metals mining company hopes to open several copper and nickel mines near the Boundary Waters. A similar, nearby project, the proposed PolyMet mine, is midway through its environmental review process. Twin Metals is just beginning. Water quality permitting will be one of the significant hurdles for Twin Metals. The mine would produce large amounts of sulfureous waste rock, or tailings. When rain water mixes with those tailings, it produces sulfuric acid, and the acid runoff from such tailings — also known as acid mine drainage — can pollute streams and lakes.
On its website, Twin Metals leaders highlight their plans for advanced wastewater treatment and safe storage of the tailings. They also estimate they will create 850 full-time jobs operating the mine plus construction jobs and invest over $5 billion in land and equipment over the mine's 30-year lifespan. Mining is part of Northern Minnesota's heritage and an important part of the economy there, the company and Northern Minnesotans who support it say. Environmentalists and Northern Minnesotans who oppose the project say the mines will pollute the Boundary Waters and threaten the jobs provided by outfitters, fishing guides, lodges, and restaurants.
For McCleary, Perillo, and Pugh, this is all very close to home. Their otherwise quiet days and nights are currently disrupted by the rumble of test drilling, and they are worried about the future of their careers and a place they love.
Perillo first came to the BWCA as a child on a canoe trip with her parents. She has worked as a guide there for the last 17 years. When asked where the best places to go are, she could not even begin. "Anywhere," she said. "There are lakes with sandy beaches and lakes with towering cliffs. There are places where you can look out for miles and miles and bogs where you're sinking up to your armpits. There are places where you can look 20 feet down into clear water. You can go into lakes that basically nobody goes to or places where you see families playing with little kids."
The Boundary Waters is one of the only places in the Midwest where you can travel for weeks without seeing any sign of civilization. While it might be hard to explain, the perseverance that traveling in the wilderness requires and the escape from the modern world it provides changes people in a wonderful way, Perillo and Pugh said. "It does amazing things once people really unplug," Perillo said.
"That was incredible; that changed my life" are phrases Pugh has often heard from the young people and adults she guides. Three boys from very different upbringings bonded over a canoe trip with Pugh and at one point saw four bald eagles eating fish just a dozen yards from their canoe. "I have not seen a bigger grin on those boys' faces," Pugh said. "Those kinds of smiles you can't put a price on." On another trip a 16-year-old girl from inner city Boston saw a starry sky for the first time. Her face was frozen with amazement, Pugh remembered. "Oh my gosh, I didn't know this is what the sky looks like," the girl exclaimed. On a dogsledding trip with a group of veterans, a younger veteran who would not say a word to anyone at the beginning of the trip slowly let his personality show. "The last night of trip the guy really opened up and in just a few sentences expressed how deeply grateful he was for everyone on that team. He had never felt that kind of confidence in himself and he said he is going to take that confidence forward into his situations at home and see how that helps," Pugh explained.
"It seems like what the wilderness does for people is act as a mirror," Pugh continued. "It reveals character. You get to see different sides of yourself and the people you travel with that you don't normally see. The wilderness really reveals a lot about who you are in a pretty empowering way, and that comes through the challenge. You don't get to experience that unless you experience the challenge."
Thousands of people have been working in the BWCA tourism industry for decades, but the pollution caused by copper-nickel mining would threaten that, Perillo and Pugh said.
"Nobody wants to fish in an industrial mining zone," Perillo stated.
When asked about the need for jobs in Northeastern Minnesota, Pugh said, "There is definitely poverty in the Arrowhead, as there is in most places in the country … but we have something that's working for us. We have a stable and sustainable industry that does support a lot of people in this region. It's something we already have and we want to protect it."
The kickoff party for McCleary, Perillo, and Pugh's bike tour will be from 5 p.m. to 7 p.m. on Thursday, April 2, at the Boat House Restaurant in Levee Park in Winona. The riders will talk about their project, give away outdoor gear from sponsors, and invite visitors to sign petitions and the We-no-nah canoe they are hauling. Cyclists are welcome to pedal along with McCleary, Perillo, and Pugh as they bike to Mankato over the weekend. The trio is also appearing at the gazebo at Winona State University's campus earlier Thursday, from 1 p.m. to 4 p.m.
I'm surprised it's still up.
Last I heard was no new projects no new news....
No coincidence...
They spent millions on a study that shuts down the state, except for Polymet because of reverse osmosis filtration... Glad Mr. Cherry thought this thru better than the government..
".....current state standard as it relates to wild rice is 10 milligrams of sulfate per liter of water. Drinking water standards allow for up to 250 milligrams per liter............."
"New wild rice recommendations as clear as mud
A new formula for determining how to protect wild rice may not make it off the drawing board. The MPCA hastily revealed the formula after the governor made comments that the agency was using obsolete science.
“If the standard is obsolete and it’s not validated by current science and information, then to stick with it and close down an industry isn’t really well advised,” Dayton said to MPR.
One guess what industry he’s referring to. If you guessed mining, give yourself five points. If you realize that wild rice is being used as the spotted owl in stopping mining in Minnesota, give yourself another five points. You aced the test.
The MPCA is in a lose-lose situation trying to come up with a standard that protects wild rice and doesn’t cost municipalities and mining companies billions of dollars.
And municipalities have as much or more to lose here in this debate. There are wastewater plants operating today that don’t meet the current standard and likely never could without spending tens of millions of taxpayer dollars.
Does that mean wild rice is about to disappear from the planet? Far from it. This is more scare tactics and mudslinging from the anti-mining crowd. The problem is they are losing the mainstream, common sense crowd. The MPCA is about to end up in the same boat.
The MPCA’s new approach would come up with a different level for each of 1,300 (and counting) bodies of water in the state of Minnesota. This sounds more like a jobs plan that it does a regulation.
The formula would include the amount of iron and organic carbon in a lake or river’s sediment to come up with a sulfate concentration level. Samples would be taken to determine if the discharge from a city sewer plant or a mining operation needs to be at a very low or higher level of sulfates.
Keep in mind that the current state standard as it relates to wild rice is 10 milligrams of sulfate per liter of water. Drinking water standards allow for up to 250 milligrams per liter.
Even if you forget about PolyMet and Twin Metals, U.S. Steel’s Minntac plant would faced hundreds of millions of dollars in upgrades to meet the current standard which has been in place since 1973 but apparently rarely if ever has been enforced.
It may take the MPCA two years (or many more if there are lawsuits filed) to bring this new standard to fruition. But since both sides appear to be finding flaws with it, the MPCA may have to go back to the drawing board.
In the meantime, there are bills in the Legislature right now to prevent the MPCA from enforcing a sulfate standard for wild rice until the rulemaking is complete.
What’s clear to us is the new recommendations are as clear as mud and unlikely to pass the smell test. And just to make this even more absurd, we’ll throw in a caveat that reminds us of the feds trying to define the word “feasible” in relation to BWCA motor portages.
“Wild rice water means a surface water of the state that contains a self- perpetuating population of wild rice plants, either currently present or that have been present in the given water body since November 28, 1975.”
That’s right, Nov. 28, 1975. Because if wild rice was present before that it doesn’t count. If that isn’t clear as mud we don’t know what is."
http://www.elyecho.com/articles/2015/03/30/new-wild-rice-recommendations-clear-mud