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Dayton vetoes agriculture-environment and jobs-energy budget bills
5
By Steve Karnowski The Associated Press | Posted 2 days ago
MINNEAPOLIS — Gov. Mark Dayton vetoed two major budget bills ahead of a Saturday night deadline for final action on measures that passed before the end of the legislative session, but he proposed a temporary tax cut in return for a scaled back version of his proposal for universal preschool for all 4-year-olds.
While Dayton signed a state government finance bill, he vetoed an agriculture-and-environment budget bill that contained his top environmental initiative, a requirement that farmers plant buffer strips to keep agricultural chemicals out of drainage ditches, streams and other waters. It also included money to combat the bird flu crisis.
The bill came under criticism from environmentalists for several other provisions that Dayton cited as "destructive" during a news conference in St. Paul, including the elimination of the citizens board that has overseen the Minnesota Pollution Control Agency for 38 years.
The Democratic governor also vetoed a jobs-and-energy budget bill. He said it provided insufficient funding for the Department of Commerce, the Bureau of Mediation Services, the Workers Compensation Court of Appeals, rural broadband and programs for the disabled. He also said it created disincentives to the use of wind and solar power. He pointed out that about a fifth of the rural broadband money in the bill would have gone to one community, the central Minnesota city of Annandale. But the bill also contained unemployment benefits for laid-off Iron Range steelworkers.
Dayton vetoed the main public school funding bill Thursday because lawmakers left out his universal preschool proposal.
However, he offered a $260 million, one-year temporary income tax cut if lawmakers will approve $250 million in additional money for public schools, including $100 million for preschool that would go only to districts that choose to apply for it. He said he would provide more details Tuesday when he meets with House Speaker Kurt Daudt. He said Daudt and other legislative leaders he reached Saturday were interested but noncommittal.
"I wouldn't agree to the tax cut without education at a comparable level. ... This is an effort to give them something that I believe they want in return for something that I want," he said.
The two vetoed bills were assembled by leaders of the GOP majority in the Minnesota House and the Democratic-Farmer-Labor majority in the Senate during the closing hours of the session without much input from Dayton. The governor said he'll insist that the buffer strip and bird flu proposals pass during the special session, and that the jobs bill provide more funding for the programs he highlighted.
Republican criticism of the vetoes was swift.
"It seems the governor's version of compromise is his way or the highway. Moving forward from this veto, which blindsided us, will be difficult," said Rep. Denny McNamara, R-Hastings, who chairs the House environment committee.
"Playing politics with the lives of farmers who have been devastated by the avian flu is simply wrong," said Assistant House Majority Leader Dave Baker, R-Willmar, whose district's turkey growers have been hard hit by the disease. "Minnesotans chose shared government last November and expect legislators as well as the governor to compromise and work together on the issues facing our state."
Dayton also signed new rules Saturday governing how police use automated license-plate readers. Location data from motorists' movements can be kept only 60 days unless the information is relevant to a criminal case.
A date and venue for the special session have not been set. It can't be held at the state Capitol because major renovations will keep lawmakers out. All pieces of the next budget must be in place by July 1 to avoid a partial government shutdown.
"The Wind Vision Report takes America’s current installed wind power capacity across all facets of wind energy (land-based, offshore, and distributed) as its baseline—a capacity that has tripled since the 2008 release of the Energy Department’s 20% Wind Energy by 2030 report—and assesses the potential economic, environmental, and social benefits of a scenario where U.S. wind power supplies 10% of the nation’s electrical demand in 2020, 20% in 2030, and 35% in 2050. The Wind Vision Report builds upon the continued the success of the wind industry to date and quantifies a robust wind energy future.
OBJECTIVES
The U.S. Department of Energy’s (DOE’s) Wind Program led a comprehensive analysis to evaluate future pathways for the wind industry. Through a broad-based collaborative effort, the Wind Vision had four principal objectives:
Document the current state of wind power in the United States and identify key technological accomplishments and societal benefits leading up to 2013;
Explore the potential pathways for wind power to contribute to the future electricity needs of the nation, including objectives such as reduced carbon emissions, improved air quality, and reduced water use;
Quantify costs, benefits, and other impacts associated with continued deployment and growth of U.S. wind power; and
Identify actions and future achievements that could support continued growth in the use.
KEY FINDINGS OF THE WIND VISION REPORT:
Wind energy is available nationwide. The Wind Vision Report shows that wind can be a viable source of renewable electricity in all 50 states by 2050.
Wind supports a strong domestic supply chain. Wind has the potential to support over 600,000 jobs in manufacturing, installation, maintenance, and supporting services by 2050.
Wind is affordable. As wind generation agreements typically provide 20 year fixed pricing, the electric utility sector is anticipated to be less sensitive to volatility in natural gas and coal fuel prices with more wind. By reducing national vulnerability to price spikes and supply disruptions with long-term pricing, wind is anticipated to save consumers $280 billion by 2050.
Wind reduces air pollution emissions. Wind energy can help avoid the emission of over 250,000 metric tons of air pollutants, which include sulfur dioxide, nitric oxide, nitrogen dioxide, and particulate matter, as well as 12.3 gigatonnes of greenhouse gases by 2050.
Wind energy preserves water resources. By 2050, wind energy can save 260 billion gallons of water—the equivalent to roughly 400,000 Olympic-size swimming pools—that would have been used by the electric power sector.
Wind deployment increases community revenues. Local communities will be able to collect additional tax revenue from land lease payments and property taxes, reaching $3.2 billion annually by 2050."
Yes, but why is there so much interest in tax fourclousers land in the iron range? By the Chinese and India and ect! They have picked up over 20,000 + acres in the last couple of years.
People in the know seem to be interested in PGM's investments in this last year.
Why isn't this reflected in stock pricing. Are at the bottom now?
"Hedge fund Paulson & Co maintained its stake in the world's biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the second quarter, while Soros Fund Management LLC sharply boosted his investment in gold mining stocks.
Legendary investor George Soros nearly doubled his ownership in a U.S. gold mining companies ETF and initiated new stakes in other gold producers, suggesting the big names in hedge funds continued to have confidence in the yellow metal.
Investors pay close attention to the quarterly filings by notable fund managers because they provide the best insight into whether the so-called smart money has changed its sentiment toward gold as a hedge against inflation and economic uncertainty.
New York-based Paulson & Co, led by longtime gold bull John Paulson, owned around 10.2 million shares in the ETF worth $1.31 billion on June 30, a filing with the U.S. Securities and Exchange Commission showed on Thursday.
That represents a gain of around $45.3 million as the price of gold climbed nearly 3.5 percent in the second quarter. In the first quarter, gold posted a gain of 6.5 percent as funds added gold back to their portfolios after aggressively selling the yellow metal last year.
"It shows that the premier players in investing still have faith in gold," said Bill O'Neill, partner at commodities investment firm LOGIC Advisors in New Jersey.
Some gold investors, however, are increasingly cautious as an improving U.S. outlook could prompt the Federal Reserve to raise interest rates soon.
Market watchers said gold's outlook remains bullish as long as real interest rates, calculated by deducting inflation rates from nominal interest rates, stay negative.
"Gold has become increasingly attractive to hedge fund managers who are long-term investors as real interest rates remain negative," said Axel Merk, chief investment officer of the $400 million Merk Funds, a family of currency mutual funds and the Merk Gold Trust, a gold ETF.
FUNDS BUY GOLD MINING STOCKS
Soros Fund Management increased his stake in Market Vectors Gold Miners ETF to 2.05 million shares valued at $54 million at the end of the second quarter, compared with 1.16 million shares in the first quarter.
"Gold mining stocks are considered relatively cheap. It also suggests that Soros may be thinking gold prices are near the bottom of the range," O'Neill said.
Soros also initiated new gold investments including 1.33 million shares in call options of the Gold Miners ETF valued at $35 million, and 1 million equity shares in Allied Nevada Gold Corp.
But Soros also slashed his stake in Barrick Gold Corp by more than 90 percent to less than half a million shares valued at just $8.8 million in the second quarter after boosting ownership of the gold miner in the first quarter."
Watch the last video! Or read the article.
https://www.yahoo.com/politics/why-obama-is-happy-to-fight-elizabeth-warren-on-118537612596.html
5/7/15
Sandy Lake at epicenter of sulfate battle
Discharge from Minntac tailings basin blamed for loss of wild rice beds
M. Helmberger
"Sandy Lake is located just north of the Laurentian Divide at the headwaters of the Lake Vermilion watershed.
REGIONAL— Just north of the Laurentian Divide, at the headwaters of the Lake Vermilion watershed, sits a lake that has become the focal point of an ongoing political and scientific battle over sulfate discharges from the mining industry.
Sandy Lake, located about five miles north of Virginia, was once known for its abundant beds of wild rice. But today, this natural aquatic grain has all but disappeared from Sandy Lake, and tribal officials and scientists alike believe it is the discharge of sulfate-laden water from U.S. Steel’s nearby Minntac tailings basin that is responsible for the change.
Sandy Lake has become “the poster child for the tribe’s concern about sulfate and wild rice,” said Dr. John Pastor, a University of Minnesota-Duluth professor who has studied the impact of sulfate levels on this native grain. “Sandy Lake used to have abundant wild rice and now it has none,” he said.
Water quality testing undertaken by the U.S. Geological Survey between 1958 and 1961, found that sulfate levels in the Sand River, just downstream from Sandy Lake averaged 8.5 milligrams per liter (mg/l), which is fairly typical for lakes and rivers in northeastern Minnesota that don’t receive industrial discharges. At the time, the lake and the upper reaches of the river were home to significant beds of wild rice.
Water quality testing done by the Minnesota Pollution Control Agency between 2012 and 2013, found sulfate levels in the lake averaged far higher than was found 50 years ago— about 95 mg/liter, although most test locations exceeded 120 mg/l.
MPCA officials acknowledge it’s the discharge from the Minntac tailings basin that has increased the sulfate levels in Sandy Lake and the Sand River, and that’s why the state regulatory agency has pushed to tighten those discharges as it works to finalize a new discharge permit for the roughly 8,000-acre basin that receives tailings from Minntac’s ore-crushing operations. Currently, sulfate levels in surface water that seeps from the basin averages around 1,000 mg/l, while test wells show groundwater seepage from the basin ranging from 300-1,000 mg/l.
The company has argued that the cost of treating the contaminated water in its massive tailings basin is too high, and they’ve found political backing for that argument from Iron Range legislators, who have pressured state regulators to loosen a state rule, enacted in the 1970s, that limits sulfate discharge to 10mg/l. It’s the strictest such standard in the country, enacted specifically to protect wild rice, an extraordinarily healthful grain that grows naturally in few other places in the world, other than Minnesota.
But while Minnesota may have the strictest sulfate standard in the country, it hadn’t been enforced for decades. Indeed, the long-expired wastewater discharge permit under which Minntac continues to operate its tailings basin, includes no sulfate limit at all.
It wasn’t until tribal leaders and environmental groups starting making waves a few years ago, that the MPCA, under pressure from federal regulators as well, began including the rule when issuing some new permits.
But even as the MPCA moved towards enforcement of the so-called “wild rice standard” for sulfates, pro-business groups like the Minnesota Chamber of Commerce were challenging the science behind the 10 mg/l pollution limit— and Iron Range politicians have been quick to latch onto the chamber’s research to argue for significant weakening of the rule. In late March, after reviewing three years of research and peer review, the MPCA announced a new proposal for a “flexible” standard that would consider several factors (including the amount of iron in the water and organic material in lake and river sediments) in determining how much sulfate can be discharged into a particular lake or river, without negatively affecting wild rice.
Research by Pastor and others has demonstrated that the sulfate level, by itself, in a body of water does not appear to impact wild rice, even at high levels. Yet in the environment, bacteria in lake and river sediments convert the sulfate into sulfide, which Pastor’s research has shown is toxic at quite low levels to wild rice and other aquatic organisms. Research, at the same time, has suggested that the amount of iron in the water and the amount of organic material in sediments, can significantly impact how much sulfate is converted to sulfide. That’s why MPCA officials believe they can now tailor a sulfate discharge standard for just about any body of water using a formula that takes such variables into account.
Sandy Lake a test case?
Sandy Lake could well be one of the first such water bodies subject to the new flexible rule. While MPCA officials had planned to issue a draft of a new discharge permit for Minntac’s tailings basin in March, the agency—under intense political pressure— never released the draft publicly. And, according to Katrina Kessler, MPCA’s Water Assessment Section Manager, no new release has been set.
While the earlier draft permit was expected to seek eventual compliance from Minntac with the existing 10 mg/l standard, the requirements of any new draft aren’t yet known, according to Kessler.
And data gathered by the MPCA suggests developing any new standard, based on the new flexible formula, is certain to be complicated, and likely to be controversial.
MPCA officials gathered data on lake sediments and iron content in Sandy Lake back in 2013. They’ve since plugged those numbers into their new formula, and the results are raising concerns from researchers like Pastor.
According to the MPCA’s calculations, which were recently obtained by the Timberjay, the level of iron and organic sediment found in portions of Sandy Lake should be providing protection for wild rice even with sulfate levels in the water as high as 96.6 mg/l. Lakewide, the new formula suggests wild rice would be protected with an average sulfate level as high as 64.6 mg/l.
Pastor says such results point to major problems with the MPCA’s formula, since it’s clear that wild rice has virtually vanished from Sandy Lake even though average sulfate levels currently aren’t much higher than levels that the MPCA’s new formula suggests should protect wild rice.
“I have no idea how they can justify this,” said Pastor. “If their model predicts that sulfate levels can reach 70-90 mg/l in a lake where wild rice is going extinct, then the [MPCA’s] model is even worse than I think.”
Pastor said the sulfide readings measured by the MPCA are also quite high in most of the tested locations in Sandy Lake. While the agency’s new formula suggests that iron in water can provide some level of protection, by chemically binding up the sulfide, Pastor said his latest research suggests iron doesn’t have the protective ability that initial research suggested.
“I suspect two things may be happening,” he said. “The iron sulfide is precipitating on the roots and inhibiting nutrient uptake and therefore seed production,” which is something that Pastor said he’s already seen in his experiments. In addition, he said, “the sulfate is flowing in from the mine and being reduced to sulfide faster than the iron can precipitate it. This excess unprecipitated sulfide is toxic to seedlings, as our experiments have also shown.”
MPCA officials are quick to point out that the results of their calculations don’t necessarily translate directly into a potential standard. Part of the problem may be the significant variability of sediment levels and iron concentrations, even within a relatively small water body, like Sandy Lake. For example, the concentration of organic material in sediments varies substantially within the lake, from as high as 33 percent to as low as eight percent.
And iron concentrations vary as well, by more than a factor of two. Pastor said such variability presents real challenges for regulators.
“There is at least a twofold range in iron and a fourfold range in organic matter,” he said. “These are the variables they use to predict sulfide and acceptable sulfate concentrations. How do they propose to sample a lake to obtain reasonably accurate estimates of sediment iron and organic matter with that range?”
Indeed, the effects of such variability is apparent in the MPCA’s own calculations of protective sulfate levels. MPCA has calculated a protection level for sulfate for each of the ten monitoring sites on the lake, and they range from as high as 96.6 mg/l to as low as 28.1 mg/l.
So which number does the MPCA select when setting a new standard? The average, the median, or the 95th percentile? MPCA’s Kessler said the agency is still weighing such questions. “We continue to evaluate the best way to calculate one protective sulfate value for a given waterbody for considering multiple discrete iron and total organic carbon samples,” said Kessler.
At this point, said Kessler, agency officials don’t know whether the standard they ultimately establish for Minntac’s tailings basin will be higher or lower than the current 10 mg/l standard.
Yet even if agency officials can determine a safe sulfate level for Sandy Lake, it’s not clear what steps Minntac would need to take to meet a new standard. The permit that MPCA ultimately issues sets sulfate levels for downstream waters, like Sandy Lake, not for the tailings basin water itself. Because the tailings basin discharge comprises only a fraction of the water entering downstream lakes and rivers, the sulfate levels in the tailings basin could continue to remain much higher, while still allowing for reduced sulfate levels downstream. For example, while sulfate levels in the basin average about 1,000 mg/l, sulfate levels at Sandy Lake average about 95 mg/l. Dilution continues to remain a significant mitigating factor for pollution discharge, according to MPCA officials.
Minntac has already reduced its downstream impact by installing a pumping facility at its Sand River discharge point that returns the water to the tailings basin. That pushes more of the basin’s water out other discharge points, such as to the Dark River, where no wild rice was historically present.
Groundwater seepage is still a factor, however, which means Minntac would either need to find a way to reduce sulfate levels in its tailings basin in general, or reduce its discharge of sulfates through groundwater. Kessler suggests that the final answer will be a combination of the two. Minntac is already subject to a 2011 schedule of compliance to reduce sulfate levels in its tailings basin— and it’s made some progress towards doing so. The company recently switched to a source of incoming water that’s lower in sulfates. In addition, the company is supposed to replace its existing (emissions) wet scrubbers with dry scrubbers that don’t contribute to increased sulfate levels in discharge water.
Whether those actions are sufficient remains to be seen. If not, Kessler notes other methods have been successful in limiting groundwater discharge from hazardous waste sites. Those methods include installing physical barriers, such as sheet piling, or using pumped wells that intercept the flow and could either return the water to the basin or to a treatment facility."
If you follow all the posts and start paying attention to the trends in PGM mining from all the politicians in Minnesota, and research articles at the point of change in September, 6 2012. You would understand the direction mining is having on a national bases.
Bluejacket6
I believe this statement will answer your question!
"This letter is in response to recent claims posited by a vocal minority about the future of mining in Northeastern Minnesota. As Iron Range mayors and township board chairmen, we represent the interests of Northeastern Minnesotans. We’re tired of people who represent the interests of St. Paul or other areas of the state pretending to know what is best for our region. We live and work in Northeastern Minnesota and take great pride in representing and preserving our Iron Range heritage. It is our responsibility to carry our respective communities into the future, to build on past successes and create opportunities for our children to thrive — and we do this unapologetically.
Rep. Betty McCollum, who recently introduced legislation designed to halt mining in Northeastern Minnesota, appears to have forgotten what district she represents. It’s St. Paul and its surrounding suburbs, not Northeastern Minnesota. Anti-mining activist Becky Rom, who made her home and living in the Twin Cities for decades and now comes back to enjoy our wilderness in her retirement, also doesn’t represent our collective communities’ interests."
Notice everything the article says is a may happen not it shall happen!
"DFL U.S. Rep. Rick Nolan in his Washington office, April 16, 2015. Brett Neely | MPR News
WASHINGTON — DFL U.S. Reps. Rick Nolan and Betty McCollum are at odds over a bill introduced by McCollum that would significantly affect the prospects of future mining operations in the watershed of the Boundary Waters Canoe Area and Voyageurs National Park, both located in the 8th District Nolan represents.
McCollum’s bill, which was introduced this week, would bar new federal mineral leases to companies interested in extracting copper, nickel and other metals from sulfide ore within the surrounding Rainy River Drainage Basin that flows into both the BWCA and Voyageurs.
In an interview, Nolan was sharply critical of the bill, which comes as taconite mining operations on the Iron Range are closing and laying off workers due to falling global steel prices.
“It has the potential to put at least four of our iron ore mining companies out of business and prevent any mining from going forward in the future,” said Nolan.
McCollum vigorously disputed that characterization, noting that her legislation only applied to sulfide mining and not gravel, sand or granite mining. Nolan’s office argues that the bill as written does not provide a similar exemption for iron ore operations and would impose a heavy regulatory burden on the industry.
U.S. Rep. Betty McCollum in her office, April 16, 2015. Brett Neely | MPR News
“I’m not shutting down any current mining,” said McCollum, who is the top Democrat on the Interior Appropriations subcommittee with jurisdiction over parks and federal land.
This isn’t the first time McCollum has taken on other Democrats in the congressional delegation over an environmental issue. In 2011 and 2012, she sought to block plans pushed by DFL U.S. Sen. Amy Klobuchar and former Republican Congresswoman Michele Bachmann to build a new bridge over the St. Croix River, a struggle McCollum eventually lost.
To some extent, the debate between the two is moot. The GOP-controlled Congress is extremely unlikely to take up or pass legislation imposing tougher environmental standards on mining.
“This bill is an uphill battle, but there are lots of things we do in Congress to start conversations, to lay down markers,” said McCollum.
There’s also a parochial undercurrent to the debate between Nolan and McCollum.
Nolan said that some of his constituents had jokingly suggested he introduce legislation to require a 50-foot barrier around buildings and parking lots in the Twin Cities."
http://blogs.mprnews.org/capitol-view/2015/04/mccollum-and-nolan-feud-over-bwca-mining-bill/
Nonferrous
You're not suppose to show these's facts! You will upset the controlling minority of the state of Minnesota!
What's wrong with you.bad boy!
Tyler Kiel
In the next few years a company named Polymet Mining is interested in opening a mine in the established mining town of Mesabi in the Iron Range. This mine would bring 10’s of thousands of jobs and millions of dollars of economic spending and shipping to Northeast Minnesota and the Duluth-Superior port area. A few concerns of this project are environmental issues with all the forest that would need be removed and the surrounding lakes. Although the open pit technique requires a large area of land it has a lot less impact on the environment, such as leeching, than the fracking type or fracture type mining would. This is why the community and state should pursue interest in letting this company open business in this area; because the benefits are far more than the disadvantages.
Some of the advantages of this mine include, but are not limited to: millions of dollars of community spending, thousands of jobs in the mine and maybe even tens-of-thousands of support jobs cause major economic boom in this area; more shipping in the twin ports as copper and zinc would be shipped by train to the area and shipped to larger consumers in ports such as Detroit and Chicago. Also the dangers are far less than underground mining or tunnel mining. This means that safe, and sustainable jobs will be here for workers, since the company is contracted for AT LEAST 20 years. (Blade)
There are no real disadvantages to this SPECIFIC open pit mine except for the land that it will have to take up, but, some disadvantages of open pit mining in general are the cost of fuel, the explosions required to extract the ore, and the chemicals involved in the extraction of the minerals from the ore.
Since the advantages greatly outweigh the disadvantages it is clear that this mine is a fantastic opportunity for the Minnesota and Northern-Wisconsin area. It would bring thousands of skilled-worker jobs like welders and machine operations, to the millions of dollars of money these workers need to spend. Also thousands of jobs to run the businesses that need to support all these workers would need to be created. It would cause a large economic boom for the area and maybe even help improve the economy of the entire nation because of a spider web effect.
Time to buy on the drop of the attacks.
This what I would be interested in hearing about!
Technical Sessions:
10:30 am – Noon
Environment – Technology Industrial Minerals
Social License and Responsibility Mining and Exploration Processing.
This is we're all the teeth are for mining for the state of Minnesota!
Gold climbed to the highest in almost seven weeks after disappointing data on U.S. jobs spurred speculation that the Federal Reserve will delay raising interest rates. Platinum reached a one-month high.
Below are the three companies in the Diversified Metals & Mining industry with the lowest betas. Lower-beta stocks mean minimal volatility and are therefore generally considered to be a less risk and offer more stable returns.
Polymet Mining ranks lowest with a a beta of 0.3. Entree Gold is next with a a beta of 0.8. Nevsun Resources ranks third lowest with a a beta of 0.8.
Mines Management follows with a a beta of 0.8, and Compass Minerals International rounds out the bottom five with a a beta of 0.9.
The pressure is on for PGM mining in the iron range. The steel industry is tanking! Permits are just around the corner!!!!
Minnesota's Drill Core Library
Bedrock drill core and data from drilling throughout Minnesota
Overview
The Minnesota Department of Natural Resources, Lands and Minerals Division, maintains a Drill Core Library in Hibbing, Minnesota. It serves as the State of Minnesota's repository for archiving bedrock and earthen material core samples collected during minerals exploration, engineering, and geoscience research programs across the state. The library attracts a world-wide audience of researchers, mineral explorers, and engineers who reuse existing core samples to develop new ideas about Minnesota's mineral resources and geology.
http://www.dnr.state.mn.us/lands_minerals/dc_library.html
Maybe accidentally on purpose?
APRIL FOOLS!!! YA ALL
The U.S. Securities and Exchange Commission charged the former CEO of Silicon Valley-based technology firm Polymet Mining Corp. (NYSEMKT:PLM) [Trend Analysis] with using nearly $200,000 in corporate funds for personal perks that were not disclosed to investors. Polycom agreed to pay $750,000 to settle the SEC’s charges, without admitting or denying the SEC’s findings as to the company. The SEC alleged that Andrew Miller created hundreds of false expense reports with bogus business descriptions for his personal use of company dollars to pay for meals, entertainment, and gifts. Polymet Mining Corp. (NYSEMKT:PLM) showed itself as moving stock, lifted 2.38% to close at $1.29. Its total outstanding shares are 280.93 million shares and floated shares were 186.96 million with the market capitalization of 355.80 Million. Its beta value stands at 1.81 times.
TODAY: EPA Administrator to Attend POLITICO’s Playbook Lunch
WASHINGTON – Today, EPA Administrator Gina McCarthy will join POLITICO’s Chief White House Correspondent Mike Allen at Playbook Lunch to discuss the work the agency is doing to implement President Obama's Climate Action Plan to build more resilient communities and curb the carbon pollution fueling climate change. The conversation will focus on the Clean Power Plan and EPA’s upcoming clean water regulations.
WallStreet Scope – Wed Mar 25th, 2015:
Polymet Mining Corp. (PLM) finished superiorly on Tuesday with a 7 day performance of 1.60% closing at $1.27, a loss of -1.55%. Traders traded at a volume of 226,222 shares. Polymet Mining Corp. (PLM) holds a quarterly performance of 25.74% and is selling off their 52 week low by 30.93% with a reported debt to equity ratio of 0.19. Polymet Mining Corp. (PLM)’s monthly performance stands at 19.81%, total insider transactions 0.00% with 284.56 million shares outstanding. Polymet Mining Corp. (PLM) is below neutral, making it a a good buy in the Industrial Metals & Minerals industry with an combined analyst rating of 2
Dayton: Outdated clean water standard could doom mining industry
Gov. Mark Dayton is siding with U.S. Steel in a battle over water pollution standards for the company's taconite facility in Mountain Iron.
In an interview with MPR News, Dayton said the existing sulfate standard aimed at protecting wild rice is out of date, and pushing it could be catastrophic for northeastern Minnesota.
As the Minnesota Pollution Control Agency prepares to release new environmental standards, U.S. Steel is lobbying the Legislature to delay the implementation of a clean water standard aimed at protecting water where wild rice grows.
The existing state standard prevents companies from discharging more than 10 milligrams of sulfate per liter of water. But company lobbyists and Iron Range legislators say the standard is too low. With his latest comments, his strongest to date on the long-running debate, Dayton is joining that group.
"Some people will say, 'you're going to abandon the standard,'" Dayton said. "But 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 the sulfate standard is outdated and has rarely been enforced since it was first established in 1973. U.S. Steel's Minntac plant was facing the new standard as it renewed a decades-old permit — something U.S. Steel said would cost hundreds of millions of dollars in upgrades.
Dayton cited a global slowdown in the steel industry as a factor in his decision. He said the sulfate standard is complex and doesn't guarantee that wild rice will thrive.
"If you have an impossibly low standard that doesn't correlate the problem that you're trying to solve anyway ... you put the whole industry out of business," he said. "We don't even know if it's going to improve wild rice conditions and it's going to be catastrophic for life up in northeastern Minnesota."
We need to keep our eyes on this for PGM mining
Energy Department Announces $20 Million to Develop Advanced Components for Next Generation Electric Machines
Polymet Mining Corp. (PLM) of the Basic Materials sector located in Canada has gained 3.20%. Polymet Mining Corp. (PLM) is at $1.290, a change of 3.200% with a weekly performance of – 6.020%. Polymet Mining Corp. (PLM)’S monthly performance stands at 17.920% and Polymet Mining Corp. (PLM) is considered a stock to watch today has an analyst rating of 2.00
Plan on Polymet stock price to take a hit this week, smart trend wrote a bad review on Polymet.
Zacks: Analysts Set $2.01 Target Price for PolyMet Mining Corp. (NYSE:PLM)
Posted by Masoud Bidgoli on Mar 16th, 2015 // No Comments
Shares of PolyMet Mining Corp. (NYSE:PLM) have earned an average broker rating score of 1.60 (Buy) from the five analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company.
Analysts have set a twelve-month consensus price target of $2.01 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned PolyMet Mining Corp. an industry rank of 152 out of 265 based on the ratings given to its competitors.
PolyMet Mining Corp. (NYSE:PLM) traded down 4.51% on Tuesday, hitting $1.27. 567,192 shares of the company’s stock traded hands. PolyMet Mining Corp. has a 1-year low of $0.97 and a 1-year high of $1.49. The stock has a 50-day moving average of $1. and a 200-day moving average of $1.. The company’s market cap is $350.29 million.
PolyMet Mining Corp. (NYSE:PLM) last posted its quarterly earnings results on Monday, December 15th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.01). On average, analysts predict that PolyMet Mining Corp. will post $-0.03 earnings per share for the current fiscal year.
PolyMet Mining Corp. is a development-stage company engaged in the exploration and development of natural resource properties. The Company’s primary mineral property is the NorthMet Project, which comprises the NorthMet copper-nickel-precious metals ore body and the Erie Plant, a large processing facility located approximately six miles from the ore body.
I believe the price will spike again, then profit taking will kickin then the buy in too hold until EIS MPCA report.
Just a guess!
Polymet stock charts
http://amigobulls.com/stocks/PLM/stockcharts
Trickle
Yep! I agree !!!
Minnesota needs more minerals!
CLIMATE ACTION: WHERE WE STAND
In 2007, the Minnesota legislature adopted the Next Generation Energy Act, including one of the strongest renewable energy standards in the nation.
It was a proud moment in our state’s history. We joined with others around the world in recognizing that changes in our climate, caused by harmful emissions from our power plants, vehicles and industries, would dramatically alter the way we live, work and play in the future—unless we took action.
The legislation was a game changer. In carrying out the law, Minnesotans would strive for more clean, homegrown energy, like wind and solar; waste less energy; and decrease our contribution to global warming.
Included in the law is the Renewable Energy Standard, which requires us to get 25% of our power from renewable energy sources by 2025. It also sets greenhouse gas reduction goals of 15% by 2015, 30% by 2025 and 80% by 2050, as well as an annual energy savings goal of 1.5% of retail sales for electric and natural gas utilities.
Fortunately, we’ve made significant progress in reaching our goals. According to the Minnesota Pollution Control Agency, if emission avoidance policies and programs in the electric power sector continue at present levels through 2025, Minnesota will see a 33% reduction in expected electric power sector emissions—a credit to the state’s aggressive Renewable Energy Standard, Conservation Improvement Program and repowering projects.
Even so, Minnesota will not achieve the first milestone—the 15% reduction in greenhouse gas emissions by 2015. We have work to do, and I am committed to getting Minnesota back on track.
It's coming!!!!
Explore Minnesota Minerals
A century of iron mining has barely scratched the surface of Minnesota’s mineral wealth. Thousands of square miles of Minnesota encompassing promising greenstone belts, sedimentary basins and intrusives await exploration. We invite you to explore Minnesota. Here are seven reasons to accept our invitation:
Minnesota has land for exploration. Your company will have access to nearly 12 million acres of stateowned mineral rights available for long-term lease. Learn more »
Minnesota has excellent mineral potential. Much of Minnesota’s geologic terrane is a continuation of the mineral-rich Canadian Shield of Ontario and Quebec, which has yielded gold, silver, zinc, copper, nickel, titanium, and other precious metals and base metals. Learn more »
Minnesota has an extensive geological database. Drill core totaling more than three million feet, collected from many areas and formations, has been stored and cataloged for your reference and analysis. Geologic maps and results of geophysical and geochemical surveys are also available. Learn more »
Minnesota has a century-long tradition of mining. Since the first load of iron ore was shipped from northern Minnesota more than 100 years ago, Minnesotans have realized the benefits of mineral development. The state’s strong environmental regulations are well established and administered equitably. We make regulatory decisions promptly and predictably according to well-established precedents. Learn more »
Over $2 billion in capital has been invested in mining in the last 5 years. Mining companies are investing in their Minnesota future.
Minnesota has trained workers and support industries. A skilled labor force and network of support industries have grown to support Minnesota’s mining industry; so when you need labor or supplies, you won’t have far to look. Learn more »
Minnesota has roads, rails, and power. No matter where you go in Minnesota, you’re never far from the highways, railroads, ports and utilities you need to get your development off the ground. Learn more »
Figure 1 - Generalized geologic bedrock map of Minnesota
Excellent Mineral Potential
Minnesota’s diverse bedrock geology ranges from early Archean to Cretaceous (Fig. 1). The state’s greatest mineral potential lies in its extensive Precambrian geology, of which four terranes are particularly promising:
1) The Duluth Complex and associated rocks. This terrane contains most of the state’s active non-ferrous mineral leases. The Minnesota Department of Natural Resources (DNR) estimates the identified copper-nickel resource of the area at about 4.4 billion tons averaging 0.66% copper and 0.2% nickel. This terrane also has significant titanium resources. Drilling has indicated the presence of other strategic minerals, such as chromium, vanadium, cobalt, and platinum-group elements.
2) The Superior Province, which encompasses the northwestern third of Minnesota and represents a continuation of the mineral-rich Canadian Shield. Canadian gold discoveries have stimulated leasing in the Minnesota portion of the Superior Province. Most exploration in this area has been for gold, zinc-copper massive sulfides with various by-products, and magmatic sulfide deposits containing copper, nickel, and platinumgroup elements.
3) Variably metamorphosed Middle Precambrian sedimentary and volcanic rocks, including the Mesabi and Cuyuna iron ranges, with known reserves of iron and manganese. Recent exploration has focused on base metals.
4) Southern Minnesota’s Archean migmatitic gneisses, younger sedimentary rocks, batholithic granitic rocks and deformed volcanics. Limited exploration has focused on Precambrian magmatic copper + nickel + PGM deposits, Paleozoic lead-zinc deposits in the southeast, base metals and precious metals in the Precambrian basement, and manganese in the southwest.
Commodity information (open referenced documents for full information - Updated in March of 2014):
This set of documents describe the status of mineral exploration and development current activities for iron ore, the group copper and nickel and platinum and palladium, for gold, for titanium, and for diamonds. Each of these has seen private investment in either exploration or development or both.
Iron-Ore: Minnesota is a mining state. Its six iron ore operations produce about 40 million tons of high-grade iron ore annually, which is approximately 75 percent of total U.S. iron ore production. To produce 40 million tons of high-grade iron ore, Minnesota moves on the order of 240 million tons of material including 135 million tons of crude ore and 105 million tons of surface and rock stripping.
Text taken from the following document: 'Explore Minnesota: Iron Ore'
Copper-Nickel: Minnesota’s known copper-nickel±platinum group elements deposits that have received the most attention, including the several deposits now being considered for possible near-term development, are located within the 1.1 billion-year-old Duluth Complex, one of the great mafic igneous complexes of the world. The Duluth Complex is the major intrusive component of the Midcontinent Rift, a failed, horseshoe-shaped, intracontinental rift system that is exposed in the Lake Superior Region.
Text taken from the following document: 'Explore Minnesota: Copper-Nickel'
Titanium: Northeastern Minnesota has ilmenite-rich deposits associated with the gabbroic intrusive Duluth Complex. Titanium oxide produced from the minerals ilmenite, rutile, leucoxene, and synthetic rutile is the predominant white pigment used in paints, paper, and plastics in a multi-billion dollar market in the United States. In addition, titanium is also essential to aerospace, military, and medical applications. In 2003, ilmenite accounted for 93 percent of world titanium mineral production (5.3 million tons), with most of the supply coming from Australia, South Africa, and Canada.
Text taken from the following document: 'Explore Minnesota: Titanium'
Gold: Exploration companies are actively drilling gold prospects on state-owned mineral leases in Minnesota’s Superior Province granite-greenstone terranes. The Archean Superior Province greenstone belts that host many of Canada’s richest gold camps continue along strike across the U.S. border and into the northern portion of Minnesota. The potential for gold production in Minnesota’s portions of the Wawa and Wabigoon Subprovinces is excellent, and the exploration models used for nearby gold deposits in Northwestern Ontario (e.g. Rainy River, Hammond Reef, Moss Lake/Shebandowan), should be considered.
Text taken from the following document: 'Explore Minnesota: Gold'
Diamonds: Minnesota is underexplored for diamonds. There has been limited exploration for diamonds by Exmin, a subsidiary of Sibeka (Belgium), that identified garnets, ilmenite, chrome spinel, and chrome diopside. Yet, Minnesota is underlain by the Archeanaged Superior Craton (after Kirkley et al., 1991, Gems and Gemology, with permission) that contains diamondiferous kimberlites, diamondiferous lamprophyres, and related heterolithic breccias/volcaniclastic sediments.
Text taken from the following document: 'Explore Minnesota: Diamonds'
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Extensive Geological Database
Figure 2 - Minnesota Geological Survey computer-generated aeromagnetic anomaly map. Image is reduced in size and density; color added. See full-sized PDF
When you explore Minnesota’s geology, you have direct access to an extensive geological database. An important source of information is the large, well-cataloged drill-core library, which houses for your inspection and analysis about two million feet of diamond drill core, referenced to exact descriptions of hole locations. The library includes drill core samples taken from across the state during the past century.
Logs, assays, geophysical, and geochemical surveys are available to you in Department of Natural Resources’ (DNR) exploration company terminated lease files. The DNR’s Division of Lands and Minerals can provide information about state land leasing, royalty rates, reclamation guidelines, and other pertinent facts.
Geologic maps and outstanding high-resolution aeromagnetic maps (Fig. 2) of much of the state have been published by the Minnesota Geological Survey. Aeromagnetic data are available on colored and black-and-white contour maps, on computer-generated shaded relief maps, and for download for your own interpretation.
Much of the information you need is stored on a web server and can be accessed at http://minarchive.dnr.state.mn.us. More and more records are being made digital and web accessible. These public documents provide a rich source of information for future exploration, environmental research, and historical minerals research.
Figure 4 - The map depicts 40-acre tracts of state mineral ownership
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Land for Exploration
If you have a target mineralization model in mind, you can test it in the nearly 12 million acres of mineral rights the state administers. Neither the state nor the federal government uses the claim-staking method in Minnesota. Each year the state awards leases for state-owned mineral rights according to competitive royalty bids. Areas that have no competitive bids later become available through lease by application. Under some circumstances, state leases can be negotiated. Fifty-year leases cover exploration and mining; so you can secure a good land position early in your program.
Moreover, mineral leases are available on many of the 3.4 million acres of federal land in Minnesota. Some 82 percent of this land is managed by the U.S. Forest Service in the Chippewa National Forest in north-central Minnesota and the Superior National Forest in the northeast.
Leases also can be negotiated on millions of acres of privately held mineral rights in the state (Fig. 4). Public land and mineral rights are scattered throughout Minnesota but are most concentrated in the north. Exploratory drilling has been heaviest in the northeast, especially on the Mesabi, Vermilion, and Cuyuna iron ranges.
http://mcc.mn.gov/explore.html
They have said differnt dates. It's been a year in march it's a guess on witch month they will release thr EIS.
Read this boards past post to see what was said on date s.
Sorry let me revise my statement end of May beginning of June.
I predict the end of April EIS comes
Polymet Mining Corp has current Potential Upside of 2.86. Potential Upside is the amount of upward price movement an investor or an analyst expects of a particular equity instrument.
http://www.macroaxis.com/invest/technicalIndicator/PLM--Potential-Upside
Proposed sulfate legislation good for iron mining industry
Posted Yesterday
Proposed sulfate legislation is good for the iron mining industry.
This year is shaping up to be a critical year for the future of taconite mining in Minnesota. There are several issues being discussed that will have significant implications for our industry and the thousands of men and women we employ.
One important issue is the application of the sulfate standard to surface water. In some cases, these surface waters are used for the production of wild rice.
Minnesota is the only state in the nation with a “wild rice sulfate standard.” Established based upon 1940s research, the current sulfate standard of 10 milligrams per liter (mg/L) is not scientifically supported. In fact, current state-funded research found that wild rice is not affected by sulfate until levels reach up to 1,600 mg/L. Even drinking water contains safe sulfate levels up to 250 mg/L. Iron Range municipalities would face devastating compliance costs if the current standard is enforced.
In addition to the scientific weaknesses of the sulfate standard, it is not consistently enforced throughout Minnesota.
Currently, U. S. Steel’s Minnesota Ore Operations’ facilities are the only entities required to comply with the standard at the time of this writing. This unreasonable and erratically enforced standard is targeted at one company and is jeopardizing the future of a healthy and vibrant taconite mining industry in Minnesota.
The Minnesota Pollution Control Agency (MPCA) should not force compliance with the standard on companies and cities until the research is complete and a modern standard is established to protect wild rice.
That is why the Iron Ore Alliance is grateful that state Legislators recently introduced legislation that would require the MPCA to comply with existing law that requires the agency to initiate a rulemaking process to designate surface waters in Minnesota where the standard applies. That rulemaking would ensure that MPCA fairly applies the standard.
Two years ago, the United Steelworkers and United States Steel formed the Iron Ore Alliance, a special partnership that is committed to promoting and protecting the 130-year tradition of mining in Minnesota.
The Iron Ore Alliance is a collaboration in pursuit of a unified goal — for Minnesota Ore Operations to continue employing, operating and investing in Minnesota in a safe and responsible manner.
Iron Ore Alliance members are good stewards of the environment and want to protect wild rice. It is an important natural and cultural resource that is cherished in our region and throughout Minnesota. We believe that wild rice can be protected while also allowing for continued operations and growth in Minnesota’s taconite mining industry.
In the past decade alone, United States Steel has continuously invested in environmental improvements at its Minnesota mines. Many of the 1,900 employees are second, third and fourth generation miners. They grew up on the Iron Range, care deeply about our region, and are committed to operating the mines in a safe and environmentally responsible manner.
It is our hope that all stakeholders will support this new legislation and that a sulfate standard based on current science can be agreed upon and applied fairly.
We plan to continue working with the MPCA and all interested stakeholders to ensure that the sulfate standard is fairly enforced and based on modern science.
o
Chris Masciantonio, United States Steel Corporation, and John Rebrovich, United Steelworkers, are co-chairs of the Iron Ore Alliance.
Reader's View: Mines create jobs and boost local economies
Posted on Feb 22, 2015 at 8:27 p.m.
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With the talk about PolyMet Mining you get the idea it would be the first new copper-nickel mine in the United States, but it’s not.
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One opened up in Michigan about three years ago, as I understand, in Big Bay, Mich. It provided 700 new high-paying jobs.
Also, there is a new mine being planned for White Pine, Mich., where copper was mined for many years before. This new mine will pump $4 billion into Marquette County over eight years and employ 300 at the mine while generating an economic effect that will create 1,200 additional jobs.
The Kewanee area years ago was mined heavily for copper and did not have the safeguards there are today, and the area still has safe drinking water. So what was the magic formula?
It has been around 10 years that we have slowed the process down for PolyMet. Enough is enough. If anybody in their right mind thinks any company’s board of directors will invest millions and millions of dollars in a business the government could come in and close down at any time, they are crazy!
Al DeJulianiie
Proctor