Polymet Mining (AMEX:PLM)
Historical Stock Chart
6 Months : From May 2019 to Nov 2019
Poly Met Mining, Inc., a wholly-owned subsidiary of PolyMet Mining Corp.
(together “PolyMet” or the “company”) TSX: POM; NYSE American: PLM,
announces that the Minnesota State Court of Appeals today upheld the
scope of the environmental review prepared for the NorthMet Project
prepared by the Minnesota Department of Natural Resources, rejecting a
challenge from several environmental groups who wanted the DNR to
prepare a supplemental review.
In its unanimous decision, the three-judge panel affirmed the DNR’s
decision not to prepare a supplemental EIS based on claims by the
Minnesota Center for Environmental Advocacy, Friends of the Boundary
Waters Wilderness and Water Legacy, that PolyMet had changed its
project. As the court explained, “[t]he new information submitted by
MCEA and Friends did not significantly affect the potential for
environmental effects because it was too speculative.” The court further
emphasized that, “[a]s the proposer, PolyMet sets the parameters of the
The court’s ruling covered three consolidated appeals filed in 2018. The
Final Environmental Impact Statement for PolyMet’s NorthMet Project was
published in November 2015 and subsequently approved by the co-lead
agencies: the Minnesota Department of Natural Resources, U.S. Forest
Service and U.S. Army Corps of Engineers.
“We are pleased that the Court of Appeals agrees with us and the DNR,”
said Jon Cherry, president and CEO. “The court’s decision reaffirms the
environmental review for NorthMet, which was the most comprehensive and
lengthiest in the state’s history, appropriately addresses the scope of
our plan to responsibly mine copper, nickel and precious metals from the
world-class Duluth Complex in northeastern Minnesota.”
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 former LTV Steel Mining
Company processing facility, located approximately seven rail 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 and received all permits necessary to
construct and operate the NorthMet Project. 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
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,
2018, 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.
here to subscribe to Mobile Alerts for PolyMet Mining Corp.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190528005649/en/
MediaBruce Richardson, Corporate CommunicationsTel:
+1 (651) firstname.lastname@example.org
Investor RelationsTony Gikas, Investor RelationsTel:
+1 (651) email@example.com