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Setbacks for the MN sulfide mining crowd

by Dan Burns on June 8, 2017

sulfideI did not expect this first one. Maybe Trump has some kind of personal beef with Twin Metals’s owner, the ecological disaster-monger Antofagasta. Whatever the motivation is, here, it looks good to me.

 

The U.S. Department of Justice late Monday filed a motion asking a federal judge to dismiss the lawsuit by Twin Metals that seeks renewal of federal mining leases that had been withdrawn by the Obama administration.
 
The move is a blow for copper mining supporters who had hoped the Trump administration would drop opposition to the lawsuit and re-issue the permits to allow the mine to advance…
 
Twin Metals sued to get the leases back. Now, the Justice Department is fighting that effort, a sign that the Interior Department under Trump may be sticking with the moratorium.
(Duluth News Tribune)

Minnesota’s mining regulators at the Land and Minerals Division of the Department of Natural Resources face a stiff test of fidelity to the citizens of Minnesota as described in an article by Josephine Marcotty in the Strib’s paper edition on May 14th. The issue is: what are the financial reserves that must be set aside to assure the state that PolyMet’s proposed mine will be cleaned up and closed properly, maintenance free, with no losses to the state?
 
Two sets of experts have looked at the cost of pre-planning PolyMet Mining Corp.’s funeral, so to speak, and the numbers are grim. The state’s own retained experts say it’s in the neighborhood of $650 million, while an independent expert, who delivered a presentation at the University of Minnesota recently, said it was more like $934 million, up front. That is just shy of a billion dollars, people. That is three or four times PolyMet’s market capitalization, let alone book value.
(Left.mn)

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