Shareholders Elect Two Veteran Copper Mining
Executives to Nine-Member Board
PolyMet Mining Corp. (“PolyMet” or the “Company”) TSX: POM; NYSE
MKT: PLM – is pleased to report 67.28% of the eligible shares were
represented at its Annual General Meeting of Shareholders held on
July 19, 2017 in Toronto, Ontario, and all motions put forward by
the Company were passed at the meeting.
The number of directors of the Company was fixed at nine and the
following persons were elected as directors of the Company to hold
office until the next annual general meeting. The voting results
are shown below:
Director
Votes For
% For Votes Withheld
%Withheld
Dennis Bartlett 131,266,736
98.76
1,639,571 1.23
Jonathan Cherry 131,366,346
98.84
1,539,961 1.15
Mike Ciricillo 131,241,593
98.74
1,664,714 1.25 Dr.
David Dreisinger 131,241,767
98.74
1,664,540 1.25 W.
Ian L. Forrest 131,028,838
98.58
1,877,469 1.41
Helen Harper 131,183,701
98.70
1,722,606 1.29 Alan R.
Hodnik 131,595,192
99.01
1,311,115 0.98 Stephen Rowland
126,709,522
95.33 6,196,785
4.66 Michael M. Sill
131,401,315
98.86 1,504,992
1.13
Joining the PolyMet board are veteran copper mining executives
Dennis Bartlett and Mike Ciricillo.
Mr. Bartlett is executive director and a founding partner in
Cupric Canyon Capital, a private company that is developing a large
copper mine in Botswana. His mining career spans more than 40
years, where he began as a mining engineer for Phelps Dodge Mining
Company in 1977. He served in various planning, operations,
construction, start-up and leadership capacities at large copper
mining operations in Chile, Peru, New Mexico and Arizona,
eventually leading all of the company’s North and South American
mining operations as senior vice president, mining operations. He
later served as senior vice president, development, for Phelps
Dodge and, subsequently, Freeport-McMoRan Mining Company. He had
instrumental leadership roles in the expansion of the Cerro Verde
copper mine in Peru, construction of a new copper mine in Safford,
Arizona, and initial development of the Tenke Fungarume copper mine
in Africa. Mr. Bartlett holds a bachelor’s degree in mining
engineering from the University of Arizona and a Master of Business
Administration from Western New Mexico University.
Mr. Ciricillo began his career at INCO Ltd in Ontario Canada,
later joining Phelps Dodge Mining Company, which was subsequently
acquired by Freeport-McMoRan, where he served in various operations
positions of increasing responsibility in the U.S., Chile, The
Netherlands and Democratic Republic of Congo. He served as director
of project development (Africa), general manager of Miami
Operations (Arizona), and president of Freeport McMoRan Africa
before joining Glencore in 2014 as head of copper operations in
Peru. He is currently responsible for Glencore’s copper smelting
and refining operations. Mr. Ciricillo holds a bachelor of
engineering degree from McGill University (Quebec, Canada) and an
MBA from Western New Mexico University.
“Dennis and Mike bring a level and depth of mining knowledge and
experience to the PolyMet board that is without parallel,” said Jon
Cherry, president and CEO. “They have operated and had executive
oversight over some of the largest and most successful mining and
processing operations in the world. They will be a tremendous asset
as we navigate through financing, the final stages of permitting,
then construction and operations of the mine.”
In other board action, PricewaterhouseCoopers LLP was
re-appointed as auditors of the Company and the board is authorized
to fix the remuneration to be paid to the auditors.
Following the meeting, Mr. Cherry gave a presentation on
achievements of the past year and goals for the future. Key
achievements include:
- All permit applications submitted as of
November 2016 and subsequently are under review by the reviewing
agencies;
- The U.S. Forest Service issued its
Final Record of Decision on the NorthMet Project and Land Exchange
in January 2017;
- All six draft permits (major) for water
appropriations and both dam safety permits completed local units of
government and tribal review in May and June, respectively;
- Significant progress continues to be
made on draft permits with the Minnesota Department of Natural
Resources and Pollution Control Agency;
- Project engineering work continues to
progress commensurate with permitting.
Key objectives include completing the land exchange via
administrative or Congressional process before the end of 2017;
seeing draft permits out for public comment in late summer and
continuing into fall with final permit decisions beginning in late
2017 and continuing through early 2018; updating the Definitive
Feasibility Study and 43-101 technical report consistent with draft
and final permits; advancing engineering on long-lead items to
prepare for order placement; and, beginning plant rehabilitation
work as allowed by permit.
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. NorthMet 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 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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