U.S. Senate Passes Land Exchange Between PolyMet and U.S. Forest Service, Minnesota
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The U.S. Senate passed bipartisan legislation for a land exchange between the Forest Service and Poly Met Mining, Inc., a wholly-owned subsidiary of PolyMet Mining. Passage of the legislation marks another major milestone in PolyMet’s development of Minnesota’s first copper-nickel-precious metals mine, located near Hoyt Lakes.
The land exchange measure was included as an amendment to the National Defense Authorization Act, which passed on a 85-10 vote in the Senate. Last November the House of Representatives passed the land exchange bill on an overwhelming, bipartisan 309-99 vote.
The Senate amendment was sponsored by Sen. Tina Smith and co-sponsored by fellow Minnesota Sen. Amy Klobuchar. It is nearly identical to the bill authored by Rep. Rick Nolan (D-Minn.), The Superior National Forest Land Exchange Act of 2017, which he introduced in the House last summer and shepherded to passage. His bipartisan bill was co-sponsored by fellow Minnesota Democrat Reps. Collin Peterson and Tim Walz, and Republicans Tom Emmer and Jason Lewis, among others.
In January 2017, the Superior National Forest issued a record of decision authorizing the administrative land exchange, determining it was in the best public interest.
“We are very grateful to House and Senate members and leadership who have worked tirelessly to bring this land exchange to closure. We also acknowledge with gratitude the strong hand of support shown to this legislation by business and labor groups, community leaders, and local supporters,” said Jon Cherry, president and CEO.
The transfer of approximately 6,650 acres of federal lands to PolyMet consolidates surface land and mineral ownership in and around the NorthMet ore body, near an area historically used for mining and associated infrastructure. Likewise, PolyMet’s transfer of title of four tracts of private land to the Forest Service totaling 6,690 acres further consolidates its land holdings in northeast Minnesota.
With title transfer, PolyMet will have total surface ownership rights of approximately 19,000 contiguous acres (30 square miles) of land including the land at the mine and processing sites, the transportation corridor connecting those sites, and buffer.
About PolyMet
PolyMet Mining Corp. 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 Erie Plant, 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 environmental impact statement was published in November 2015, preparing the way for decisions on permit applications. NorthMet 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.
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