Polymet Mining Corp (PLM)

[Robert H]

PolyMet

WDIO – News 04/25/12

Phase 1 of PolyMet is $350 million dollars. CEO Joe Scipioni said that's like an investment of almost $1 million dollars a day, for a year.

"That's what our region is missing out on, while we wait for permits," he told the group of chamber members in Virginia. He was speaking at the Laurentian Chamber luncheon on Tuesday.

The base and precious metals project holds the promise of 360 jobs and hundreds of spin-off jobs.

It's still in the lengthy permitting phase, with the crucial supplemental draft environmental impact statement to be out later this year.

Scipioni then turned the presentations to the myths that are out there about their project. There are a number of environmental groups that are strongly opposed to the project.

Some myths, according to PolyMet, include:

1) Hard rock mining is the biggest polluter. Scipioni contends it's actually the pollution from vehicles, ATVs, and boat motors.

2) PolyMet is a snowplow for all other project. (Meaning once PolyMet is permitted, all other projects will automatically be permitted through.) Scipioni said each project will be vetted and permitted on its own merits.

3) PolyMet is a wild rice killer. Scipioni said that they can move forward without any changes to the current sulfate standard.

Jerry Hoel, from Miners National Bank, came to the presentation to hear the latest. "We're all frustrated with the long wait. We have a stake in the future of this region, and mining is in our future."