PolyMet Improves NorthMet Project
February 14 2013 - 8:27AM
Marketwired
PolyMet Mining Corp. (TSX:POM)(NYSE MKT:PLM) ("PolyMet" or the
"Company") is pleased to report project improvements and further
progress in the environmental review of its 100%-owned
copper-nickel-precious metals project (the "NorthMet Project")
located in the established mining district of the Mesabi Iron Range
in northeastern Minnesota.
The Minnesota Department of Natural Resources (MDNR), US Forest
Service (USFS), and US Army Corps of Engineers (USACE) are the
"Lead Agencies" responsible for producing a supplemental draft
Environmental Impact Statement ("EIS"), which will describe the
project and its potential impacts in detail, providing the
foundation for issuance of permits and approvals required to
construct and operate the project.
Project Improvements
In addressing comments on the draft EIS, PolyMet has undertaken
an extensive review of all aspects of the NorthMet Project which
has resulted in numerous improvements that will reduce the
Project's environmental impacts. These improvements are in addition
to the previously announced operational and economic enhancements,
which were described in the NorthMet Updated Technical Report under
National Instrument 43-101, filed on January 23, 2013.
The reduced environmental impacts include:
-- Reductions in sulfur dioxide, mercury and greenhouse gas emissions at
the plant site.
-- Capture of groundwater and surface seepage with the construction of an
in ground containment system to the north and west of the existing
tailings basin.
-- All contact water discharged from the project will be treated through
reverse osmosis ("RO") plants. Based on a pilot scale RO treatment plant
that has successfully treated over 1.5 million gallons of water to date,
contact water discharge will meet applicable state and federal water
quality standards, including (but not limited to) Minnesota's wild rice
standard for sulfate.
These design improvements have been incorporated into the
groundwater, surface water and air dispersion models that assess
potential environmental impacts of the project.
Jon Cherry, PolyMet's president and CEO stated, "Reductions in
the environmental impact of our project are a significant step
toward completion of the supplemental draft EIS, which is on track
for mid-summer 2013."
Mr. Cherry continued, "We are now commencing detailed capital
and operating cost updates based on these project changes and are
reviewing detailed construction plans and schedules to prepare for
project construction once we receive permits."
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 our
beliefs related to exploration results and budgets, reserve
estimates, mineral resource estimates, work programs, capital
expenditures, actions by government authorities, including changes
in government regulation, the market price of natural resources,
costs, 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, 2012 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 October 31, 2012 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) 225-4417lgietzen@polymetmining.com
PolyMet Mining Corp. - Investors Jenny Knudson VP - Investor
Relations +1 (651) 389-4110jknudson@polymetmining.com
www.polymetmining.com
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