PolyMet Completes Key Project Milestones
November 19 2012 - 8:48AM
Marketwired
PolyMet Mining Corp. (TSX:POM)(NYSE Amex:PLM)(NYSE MKT:PLM)
("PolyMet" or the "Company") is pleased to announce completion of
key milestones in the environmental review of its 100%-owned
copper-nickel-precious metals project (the "NorthMet Project")
located in the established mining district of the Mesabi Iron Range
in northeastern Minnesota.
The Minnesota Department of Natural Resources (MDNR), US Forest
Service (USFS), and US Army Corps of Engineers (USACE) are the
"Lead Agencies" responsible for producing a supplemental draft
Environmental Impact Statement ("EIS") that describes the project
and its potential impacts, and provides the basis for issuance of
permits.
Completion of Key Reviews
PolyMet has completed engineering control designs as well as the
design of and inputs to groundwater, surface water and air
dispersion models to assess potential environmental impacts from
the NorthMet Project. Following extensive quality assurance/quality
control review by Foth Infrastructure & Environment and Barr
Engineering, PolyMet has delivered these results to the state
regulatory agencies and their EIS Contractor for review.
Review of these results is expected to be completed in early
2013. The results will be incorporated into the supplemental draft
EIS which will then be reviewed by the federal Lead Agencies, the
US Environmental Protection Agency ("EPA") and other governmental
and cooperating agencies prior to publication for public
review.
Other Progress
PolyMet's water treatment pilot plant has now processed in
excess of 1.4 million gallons of water and continues to perform
extremely well. The modular Reverse Osmosis water treatment plant
will enable PolyMet to meet water quality standards, including (but
not limited to) Minnesota's wild rice standard for sulfate.
Technical teams from key regulatory agencies have visited the pilot
plant. PolyMet's water treatment plans have been well received by
community organizations.
"I am very pleased by the considerable progress made by the
permitting team in recent months," stated Jon Cherry, president and
CEO of PolyMet. "Completion of engineering control design, numeric
model design and model inputs enables PolyMet to demonstrate that
the NorthMet Project meets state and federal air and water
standards, which provides the foundation for completion of the
environmental review leading to issuance of permits."
Mr. Cherry concluded, "The final steps to completing the
supplemental draft EIS for public review are to incorporate the
model results and receive comments from the EPA and other
cooperating and government agencies."
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a
publicly-traded mine development company that owns 100% of Poly Met
Mining, Inc., a Minnesota corporation that controls 100% of the
NorthMet copper-nickel-precious metals ore body through a long-term
lease and owns 100% of the Erie Plant, a large processing facility
located approximately six miles from the ore body in the
established mining district of the Mesabi Range in northeastern
Minnesota. Poly Met Mining, Inc. has completed its Definitive
Feasibility Study and is seeking environmental and operating
permits to enable it to commence production. The NorthMet project
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 MINING CORP.
Jon Cherry, CEO
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 our
beliefs related to exploration results and budgets, reserve
estimates, mineral resource estimates, work programs, capital
expenditures, actions by government authorities, including changes
in government regulation, the market price of natural resources,
costs, ability to receive environmental and operating permits, job
creation, 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
Report on Form 20-F for the fiscal year ended January 31, 2012 and
in our other filings with Canadian securities authorities and the
U.S. Securities and Exchange Commission, including our Report on
Form 6-K providing information with respect to our operations for
the three months ended July 31, 2012 for a discussion of some of
the risk factors and other considerations underlying
forward-looking statements.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: Corporate: PolyMet Mining Corp. Douglas Newby Chief
Financial Officer +1 (651) 389-4105dnewby@polymetmining.com Media:
PolyMet Mining Corp. LaTisha Gietzen VP - Public, Gov't &
Environmental Affairs +1 (218) 225-4417lgietzen@polymetmining.com
Investors: PolyMet Mining Corp. Jenny Knudson VP - Investor
Relations +1 (651) 389-4110jknudson@polymetmining.com
www.polymetmining.com
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