BP's Former CEO Working for Polymet's Biggest Investor
DULUTH, MN (Northlandsnewscenter) - Environmentalists have been keeping an eye on the proposed Polymet copper, nickel mine in Hoyt Lakes, but now their attention will likely go into over-drive.
A man involved in one of the worst environmental disasters in the nation is now working for the largest investor with Polymet.
If you watched the news at all last summer, you have probably heard of his name, or at least the disaster that led to his removal from oil giant BP.
Tony Hayward was the CEO of British Petroleum until the Gulf Oil Spill.
Fast forward to the present, and it only takes a click of the mouse to find he's now the executive expert in charge of environment and safety for Glencore - one of the biggest commodity traders in the world.
But the company is also the biggest investor in the proposed Polymet's mining operation near Hoyt Lakes.
Glencore has almost 20 percent of Polymet shares and could take up to a quarter of stake in company.
Polymet is still working to get environmental permits to start the mine.
Though it would bring up to 400 jobs to the Iron Range, environmentalists have already gone on record speaking about dangers of sulfide mining.
"St. Louis River has over a hundred mile dead zone for wild rice. I think we should realize there is a connection between the mining on the Mesabi Iron Range and the dead zone in the St. Louis River," said activist Bob Tammen.
Now Tony Hayward's hand in Glencore will only add to the conversation.
A Polymet spokesperson told the Northland's NewsCenter, they cannot speak on behalf of Glencore, but said "Minnesota State law requires up-front financial assurance, which is covered in Polymet's permit to mine."
That is what Glencore will bring to the table.
Tony Hayward has been with the Switzerland based Glencore since mid-April, but the financial agreements between Glencore and Polymet were put into place last Fall.
