PolyMet Completes 6700-Acre Land Exchange with U.S. Forest Service
June 28 2018 - 4:09PM
Business Wire
Title transfer unites surface and mineral
rights for the NorthMet ore body
The U.S. Forest Service and Poly Met Mining, Inc., a
wholly-owned subsidiary of PolyMet Mining Corp. (together “PolyMet”
or the “company”) TSX: POM; NYSE AMERICAN: PLM – today exchanged
titles to federal and private lands, completing an administrative
land exchange that is central to development of Minnesota’s first
copper-nickel-precious metals mine.
“With land title from the Forest Service, we now have the secure
foundation on which we can complete development of this project,”
said Jon Cherry, president and CEO.
The transfer of surface rights to approximately 6,650 acres of
federal lands to PolyMet gives the company control over both
surface and mineral rights in and around the NorthMet ore body,
which is near an area historically used for mining and associated
infrastructure. Likewise, PolyMet’s transfer of title of four
tracts of private land to the Forest Service totaling 6,690 acres
further consolidates the Superior National Forest’s land holdings
in northeast Minnesota.
With the exchange, PolyMet has total surface rights, including
ownership and other use and occupancy rights, to approximately
19,000 contiguous acres (30 square miles) of land including the
land at the mine and processing sites, the transportation corridor
connecting those sites, and buffer.
Title transfer comes 17 months after the Superior National
Forest issued a Record of Decision authorizing the land exchange,
determining it was in the best public interest.
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a publicly
traded mine development company that owns 100 percent of Poly Met
Mining, Inc., a Minnesota corporation that controls 100 percent of
the NorthMet copper-nickel-precious metals ore body through a
long-term lease, and owns 100 percent of the Erie Plant, a large
processing facility located approximately six miles from the ore
body in the established mining district of the Mesabi Iron Range in
northeastern Minnesota. Poly Met Mining, Inc. has completed its
Definitive Feasibility Study. The NorthMet Final Environmental
Impact Statement was published in November 2015, preparing the way
for decisions on permit applications. NorthMet is expected to
require approximately two million hours of construction labor,
create approximately 360 long-term jobs directly, and generate a
level of activity that will have a significant multiplier effect in
the local economy.
PolyMet Disclosures
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, and the effect on the local economy, 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 risk factors and other
considerations underlying forward-looking statements discussed in
PolyMet’s most recent Annual Report on Form 40-F for the
fiscal year ended December 31, 2017, and in our other filings with
Canadian securities authorities and the U.S. Securities and
Exchange Commission.
The Annual Report on Form 40-F also contains the company’s
mineral resource and other data as required under National
Instrument 43-101.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20180628006281/en/
PolyMet Mining Corp.MediaBruce Richardson,
+1-651-389-4111Corporate
Communicationsbrichardson@polymetmining.comorInvestor
RelationsTony Gikas, +1-651-389-4110Investor
Relationsinvestorrelations@polymetmining.com
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