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Polymet Mining Corp T.POM

PolyMet Mining Corp. is a mine development company. The Company is engaged in mining copper, nickel and precious metals from the NorthMet ore body. The Company owns the NorthMet Project and Mesaba Project, which is a copper, nickel, cobalt and platinum group metal (PGM) deposits. The NorthMet deposit is located in the Partridge River Intrusion of the Duluth Complex, a geological formation near the eastern end of the Mesabi Iron Range, which is an undeveloped accumulation of copper, nickel and platinum group metals. The Mesaba Project is located in St. Louis County, Minnesota. Its NorthMet is a disseminated sulfide deposit in heterogeneous troctolitic rocks associated with Mid-continent Rift, and is rich with copper, nickel, cobalt, platinum, palladium, gold and silver. The majority of the metals are concentrated in, or associated with, four sulfide minerals: chalcopyrite, cubanite, pentlandite and pyrrhotite.


TSX:POM - Post by User

Bullboard Posts
Post by smilewithmeon Feb 29, 2008 9:43am
218 Views
Post# 14571486

TV Show -Part 2

TV Show -Part 2Second TV show which can be watched at https://www.northlandsnewscenter.com/news/local/16106532.html With thousands of jobs on the line, and a multi-billion dollar emerging industry, many in the Northland are embracing the idea of copper-nickel mining on the Iron Range. But while the economic impact would be incredible, there is mounting concern over whether the financial incentive is over-shadowing care for the environment. The boom and bust cycles of taconite mining create an economic instability on Minnesota's Iron Range. For this region mining is our economic stability. And you know we've had a down cycle for 20 to 30 years. The emerging multi-million dollar industrial potential for copper nickel mining seems like a dream come true for many...but for others it seems like a pending nightmare. If we invest in copper nickel mining we are also investing in degradation of the air, we're investing in a loss of wetlands, a loss of wilderness and we're investing in an acid mine drainage problem that's going to need to be treated for hundreds and hundreds of years. Copper Nickel industry spokespeople say that's not true and say environmental interests are being carefully safeguarded by Federal and state agencies. We go through just a very stringent and vigorous permitting venue. I mean we've been at it for over three years and spent over 13-million dollars. For many on the Iron Range the lure of new jobs and a more dynamic economy is strong. I think there'll be good jobs with good benefits. That a family can really raise their children and the schools can prosper. Right now we educate our kids, they take that education, they leave. The young people can find jobs, raise families. That helps our school districts; that helps the extra curricular, the sports programs. It would be wonderful. We'd have younger families moving back to the area. We'd have houses selling for higher prices. There are five mining companies exploring for copper nickel and other non-ferrous metals. Experts estimate a four billion ton deposit stretching about 150-miles across Northern Minnesota. This is one of the biggest reserves that are still, been known for years, but has never been developed and has real potential. It's the third largest deposit of copper nickel in the world. It's important that the entire state understand the importance of this dynamic new industry. The jobs and economic benefit it can bring, as well as tax revenue it can bring. To put it in perspective a fully operational non-ferrous mine could have a significantly greater economic impact than a taconite facility. If PolyMet were producing copper nickel concentrate at the same rate that LTV was producing taconite, at its peak, there's the potential for double the economic impact. But as the excitement builds there is a growing movement advocating slowing down and taking time to study the potential impact. The sulfuric acid leeches out more of these toxic heavy metals. This combination is called acid mine drainage and this comes out. The creation of these large waste rock piles that will then be exposed to the air and may continually, over long periods of time, be leeching acid mine drainage. Non-ferrous mine spokespeople say they have plans to prevent the drainage from getting into the environment. We'll be stockpiling the waste material on liners and covering those and treating them. And we also will be neutralizing in the process. PolyMet, the farthest along of the five non-ferrous mineral exploration companies hopes to meet all requirements and open its mine near Hoyt Lakes within the next two years. On the Iron Range, Barbara Reyelts, the Northland's News Center. Each of the non ferrous mineral exploration companies has a web site. Also the Sierra Club has a portion of their web site dedicated to copper nickel mining.
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