PolyMet Land Exchange Bill Passes U.S. House, Advances to Senate
November 28 2017 - 9:55PM
Business Wire
PolyMet Mining Corp., (“PolyMet” or the “company”) TSX: POM;
NYSE AMERICAN: PLM – announces that House Resolution 3115, the
Superior National Forest Land Exchange Act of 2017, today passed
the U.S. House of Representatives on a bipartisan 309 to 99 vote
and advances to the Senate.
The Forest Service authorized an administrative land exchange
for the PolyMet Mining NorthMet Project in its Final Record of
Decision January 9, 2017.
The bipartisan bill, introduced by U.S. Rep. Rick Nolan, D-MN-8
in July, directs the secretary of agriculture to move forward with
the land exchange between PolyMet and the U.S. Forest Service. In
passing the legislation, the House ratifies the Forest Service’s
determination that the land exchange is in the best public
interest. The bill calls for the exchange to be completed within 90
days of its enactment.
“We are grateful to Rep. Nolan, the bill’s co-sponsors, and
House leadership for their efforts to move this legislation
forward,” said Jon Cherry, president and CEO. “While neither the
legislative nor the administrative exchange would permit or approve
construction of the mine, Congressional approval for the exchange
provides certainty of process in developing the project by
finalizing the land transfer.”
The terms of the land exchange proposed in the Superior National
Forest Land Exchange Act of 2017 are the same as those found in the
administrative land exchange: PolyMet receives approximately 6,650
acres of surface land above and around its NorthMet ore body near
an area heavily used for mining and mine infrastructure; in
exchange, the Superior National Forest receives four parcels of
land totaling 6,690 acres currently owned or controlled by PolyMet
that will become part of the Superior National Forest. The
difference is that the $425,000 equalization payment owed PolyMet
by the Forest Service as a result of the administrative exchange
would be waived by the company in the legislative exchange.
The bill’s co-sponsors are: House Agriculture Committee Ranking
Member Colin Peterson (D-MN) and fellow Minnesotans Timothy Walz
(D), Tom Emmer (R) and Jason Lewis (R); and House Natural Resources
Subcommittee leaders, including Energy and Mineral Resources
Chairman Paul Gosar (R-AZ), Federal Lands Chairman Tom McClintock
(R-CA), Federal Lands Vice Chairman Bruce Westerman (R-AR), and
senior House Natural Resources Members Scott Tipton (R-CO) and Doug
Lamborn (R-CO).
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 former LTV
Steel Mining Company site, 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. The NorthMet Project
is expected to require approximately two million hours of
construction labor, create approximately 360 long-term jobs
directly, and generate 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 risk factors and other
considerations underlying forward-looking statements discussed in
PolyMet’s most recent Annual Report on Form 40-F for the
fiscal year ended January 31, 2017, 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 and six
months ended July 31, 2017.
The Annual Report on Form 40-F also 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.
Click here to subscribe to Mobile Alerts for PolyMet Mining
Corp.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171128006592/en/
PolyMet Mining Corp.MediaBruce Richardson, +1
651-389-4111Corporate
Communicationsbrichardson@polymetmining.comorInvestor
RelationsJenny Knudson, +1 651-389-4110Investor
Relationsjknudson@polymetmining.com
Polymet Mining (AMEX:PLM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Polymet Mining (AMEX:PLM)
Historical Stock Chart
From Apr 2023 to Apr 2024