Minnesota
Developers seek financing for Minnesota copper-nickel mine

Published
5 months agoon

HOYT LAKES, Minn. (AP) — Developers of a proposed copper-nickel mine in northern Minnesota are courting bankers for $950 million in financing, even as environmental groups push back against the project over water pollution fears.
PolyMet Mining Corp. CEO Jon Cherry tells the Star Tribune that he’s confident the project will move forward despite concerns over its environmental permits.
Minnesota’s legislative auditor recently announced an investigation into state regulators’ handling of a water quality permit for the mine. It comes a month after the state’s appeals court ruled in PolyMet’s favor in a challenge from environmental groups.
Cherry says global mining giant Glencore’s ownership in the project will partly determine how it’s financed. The Switzerland-based company holds a 29% equity stake in PolyMet, but the amount may grow.
Developers hope to begin construction next year.
You may like
-
EPA rejects ban on poisonous cyanide bombs against cattle predators
-
Minn. farm offers holiday agri-tourism experience
-
Canada’s Enbridge Energy leaves debris in Michigan Great lakes waterway, delays report
-
Projected $1.3B surplus sets up Minnesota budget debate
-
Majority of wells in new Wisconsin sample have fecal matter
-
Minnesota put on notice over incidental trapping of lynx
-
More trash to French Island incinerator?
-
Minnesota OKs medical cannabis for chronic pain, eye disease
-
Minnesota governor forms subcabinet to help state fight climate change