PolyMet Mining Corp. (TSX:POM)(NYSE MKT:PLM) ("PolyMet" or the
"Company") is pleased to report significant progress in the
environmental review process for its NorthMet Project located in
the established Mesabi Iron Range mining district in northeastern
Minnesota.
On August 23, 2013 PolyMet reported that the Minnesota
Department of Natural Resources ("DNR") had announced that the
1,800-page NorthMet supplemental draft Environmental Impact
Statement ("EIS") will be available for public review on November
22, 2013 when it will be published in the Federal Register. It will
then be published in the Minnesota Environmental Quality Board
Monitor on November 25, 2013.
The supplemental draft EIS is being prepared by the DNR, the US
Army Corps of Engineers ("USACE") and the US Forest Service (the
"USFS" and together the "co-lead Agencies"). In July 2011, the US
Environmental Protection Agency ("EPA") became a cooperating Agency
alongside the three Minnesota Chippewa bands (Bois Forte, Fond du
Lac, and Grand Portage). The Minnesota Pollution Control Agency is
also actively involved in the process, leading into its role in
permitting and environmental compliance.
The schedule for publication of the supplemental draft EIS
follows a recent letter from the EPA to the co-lead Agencies
reviewing the preliminary supplemental draft EIS ("PSDEIS"), which
was circulated to the cooperating agencies and others in May 2013.
The EPA letter states:
"The PSDEIS, along with additional information provided to the
EPA during its review, reflects significant progress in designing
and clearly documenting the project. The EPA appreciates the
collaborative and constructive discussions we have had with the
co-lead agencies since receiving the PSDEIS. In these discussions,
we have covered all the areas where the EPA had questions or
comment. You (the co-lead agencies) have asked that we provide
written comments and recommendations confirming our previous
discussions to bring any remaining issues to closure. Enclosed are
a number of recommendations to assist the co-lead agencies in
preparing the SDEIS for public review and comment that will clearly
and adequately describe the project." The full text is available
at:
http://www.polymetmining.com/news/media-coverage/epa-update/
Jon Cherry, President and CEO of PolyMet said, "PolyMet has
worked diligently over the past three-and-a-half years to improve
the project design, and to complete the analysis and technical
studies for the NorthMet Project as requested by the government
agencies. We can demonstrate that we can protect the environment
and produce essential metals while creating hundreds of new jobs in
the community.
"The government Agencies and ERM, the independent contractor
tasked with preparing the EIS, have also worked hard to complete
their technical analysis of NorthMet in order to prepare and
thoroughly review the supplemental draft EIS. Incorporating
extensive but constructive recommendations from the cooperating
agencies including the EPA, the supplemental draft EIS will be a
rigorous analysis of the environmental impact and mitigation of the
NorthMet Project," Mr. Cherry added.
Background
PolyMet is seeking permits to construct and operate the NorthMet
Project, which comprises reutilizing the existing Erie Plant and
associated infrastructure, originally built to process iron ore,
and developing a new open pit mine to extract copper, nickel, and
platinum group metals from the NorthMet ore body located six miles
east of the Erie Plant.
The supplemental draft EIS builds on the draft EIS published in
late 2009, describes in detail the NorthMet Project as PolyMet
intends to build it, and will inform the public of the likely
environmental impact and mitigation plans. Release of the
supplemental draft EIS will begin a public review period, including
public meetings. The co-lead Agencies will then review and respond
to comments and, if needed, modify the EIS for publication of the
final EIS. The co-lead Agencies will then determine if the final
EIS adequately evaluates the project and its likely environmental
impacts. The state "Adequacy Decision" and federal "Record of
Decision" form the basis for issuance of permits.
Mr. Cherry commented, "Environmental review and permitting is a
process that involves extensive review by numerous government
agencies and opportunities for the public to comment. Completion of
the supplemental draft EIS is a major milestone on the path to
receipt of permits. Following our recent very successful rights
offering, we are well financed to be able to complete this
process."
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a
publicly-traded mine development company that owns 100% of Poly Met
Mining, Inc., a Minnesota corporation that controls 100% of the
NorthMet copper-nickel-precious metals ore body through a long-term
lease and owns 100% 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.
Jon Cherry, CEO
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, 2013 and
in our other filings with Canadian securities authorities and the
U.S. Securities and Exchange Commission, including our Report on
Form 6-K providing information with respect to our operations for
the three months ended April 30, 2013 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.
Contacts: PolyMet Mining Corp. - Corporate Douglas Newby Chief
Financial Officer +1 (651) 389-4105dnewby@polymetmining.com PolyMet
Mining Corp. - Media LaTisha Gietzen VP - Public, Gov't &
Environmental Affairs +1 (218) 471-2150lgietzen@polymetmining.com
PolyMet Mining Corp. - Investor Relations Jenny Knudson VP -
Investor Relations +1 (651) 389-4110jknudson@polymetmining.com
www.polymetmining.com MZ North America Pascal Nigen Senior
Vice-President +1 (212) 301-7149pnigen@mzgroup.us
www.mzgroup.us
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