Rep. Nolan Introduces Land Exchange Legislation for PolyMet NorthMet Project
July 03 2017 - 7:54AM
Business Wire
PolyMet Mining Corp. (TSX: POM; NYSE MKT: PLM) reports that U.S.
Rep. Rick Nolan, D-MN-8., has introduced bipartisan legislation to
direct the secretary of agriculture to move forward with the land
exchange between PolyMet and the U.S. Forest Service.
The Forest Service authorized an administrative land exchange
for the PolyMet Mining NorthMet Project in its Final Record of
Decision January 9, 2017. The purpose of House Resolution 3115, The
Superior National Forest Land Exchange Act of 2017, is to
accelerate transfer and provide certainty of process. The bill was
introduced June 29, 2017 and referred to the House Natural
Resources Committee.
“We are committed to moving the project forward in a thoughtful
and expeditious manner and are pleased Congressman Nolan is taking
this step to bring closure to the land exchange process,” said Jon
Cherry, president and CEO. “In this legislation, Congress would
ratify the Forest Service’s determination that the exchange is in
the best public interest and moves for the exchange to be completed
within 90 days of the bill’s enactment.”
The environmental review for the NorthMet Project and land
exchange was the largest and longest in Minnesota history,
concluding after 10 years. The Final Environmental Impact Statement
demonstrates that the NorthMet Project is capable of meeting all
applicable state and federal environmental standards.
PolyMet is seeking to permit, build and operate the NorthMet
copper-nickel-precious metals project located in the established
Mesabi Iron Range mining district in northeastern Minnesota. The
land exchange was proposed jointly by the Forest Service and
PolyMet in 2010 to consolidate their respective land
ownerships.
The terms of the land exchange proposed in The Superior National
Forest Land Exchange Act of 2017 are the same as those found in the
administrative land exchange: PolyMet receives approximately 6,650
acres of surface land above and around its NorthMet ore body near
an area heavily used for mining and mine infrastructure; in
exchange, the Superior National Forest receives four parcels of
land totaling 6,690 acres currently owned or controlled by PolyMet
that will become part of the Superior National Forest. The
difference is that the $425,000 equalization payment owed PolyMet
by the Forest Service as a result of the administrative exchange
would be waived by the company in the legislative exchange.
The company will continue its involvement in the administrative
steps to complete the land exchange transaction while the bill is
under consideration.
Neither the administrative land exchange, nor a legislative
exchange would permit or approve construction of the NorthMet mine.
Mine development and operations remain subject to regulation and
permits issued by the State of Minnesota and the U.S. Army Corps of
Engineers, among others. Those state and federal agencies are
currently reviewing and processing permit applications for the
project, including the comprehensive Permit to Mine
application.
Original cosponsors of the bill include House Agriculture
Committee Ranking Member Collin Peterson (D-MN) and fellow
Minnesotans Tom Emmer (R) and Jason Lewis (R). The bill also has
the support of a number of key House Natural Resources Subcommittee
leaders, including Energy and Mineral Resources Chairman Paul Gosar
(R-AZ), Federal Lands Chairman Tom McClintock (R-CA), Federal Lands
Vice Chairman Bruce Westerman (R-AR), and senior House Natural
Resources Members Scott Tipton (R-CO) and Doug Lamborn (R-CO).
A more detailed description of the exchange lands and benefits
can be found at:
http://polymetmining.com/northmet-project/land-exchange/
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 EIS
was published in November 2015, preparing the way for decisions on
permit applications. The NorthMet Project 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 PolyMet’s most recent Annual
Information Form for the fiscal year ended January 31, 2017 and in
other filings with Canadian securities authorities and the U.S.
Securities and Exchange Commission, including the Company’s Form
6-K providing information with respect to operations for the three
months ended April 30, 2017, for a discussion of some of the risk
factors and other considerations underlying forward-looking
statements. The Annual Information Form 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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PolyMet Mining Corp.MediaBruce Richardson, +1
651-389-4111Corporate
Communicationsbrichardson@polymetmining.comorInvestor
RelationsJenny Knudson, +1 651-389-4110Investor
Relationsjknudson@polymetmining.com
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