Friday, May 26, 2017 3:32:40 PM
This mine is about Allete getting the copper that they need to help them expand their renewable energy business. They get to control their own supply of copper through the Northmet mine while Glencore provides funding and mining expertise, in return Glencore gets the precious metals.
Alletes saves HUGE by cutting out a third party copper producer and they will pay undermarket value.
"He'll be the first to point out that the company's new solar farm at Camp Ripley uses more than 30 tons of copper, and its Bison Wind Energy Center in North Dakota uses 1,500 tons, and that copper has to come from somewhere — possibly another big new customer, PolyMet Mining Corp. As he said at last week's investor meeting: "Minnesota is a leader in clean energy, and it can also be a leader in clean mineral mining." (Hodnik is on the board of directors for PolyMet, which is edging closer to getting permits for a copper and nickel mine in northern Minnesota.)
That might not make him friends with environmentalists, who remain staunchly opposed to copper mining in the state, but renewable energy requires nonrenewable resources"
http://www.duluthnewstribune.com/business/energy/4266670-allete-powers-duluth-based-company-thriving-it-renews-focus-all-things
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM