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A proposal for a large underground copper mine in Minnesota reached a milestone last week.
Twin Metals Minnesota LLC – a joint venture beween Duluth Metals and Chilean company Antofagasta Plc – said on March 21st that it has engaged an engineering firm to draw up plans for an 80,000 tpd mine and processing plant near Ely, in northeastern Minnesota.
Toronto-based Duluth Metals (TSX:DM) provides an update on the plans:
An initial pre-feasibility NI-43-101 Resource Estimate report on the consolidated resources of the Twin Metals Project is nearing completion by AMEC and is anticipated to be finalized by the end of April, 2012. This report is going through final iterations as minor additions are incorporated into the geologic model. This resource will be used for mine planning purposes in the pre-feasibility study. This initial resource update will be followed up by a pre-feasibility resource report which will incorporate data from recent, current, and near future targeted drill programs.
Duluth Metals says the deposit, called Nokomis, is one of the world’s largest undeveloped repositories of copper, nickel and PGMs. Duluth published assay results in July 2011 from 15 holes. The company said in the July 7 news release that 9 holes contained TPMs (platinum, palladium, gold) over 1 g/t and 11 holes greater than 1.7% Cu equivalent. Three holes indicated mineralization to expand the deposit in a southerly direction. Read the drill results here
Duluth News Tribune reports that if developed, Nokomis would be the largest underground mine in Minnesota history. The news site has Bob McFarlin, Twin Metals’ vice president of public and government affairs, describing the future mine as “like an underground city” with miles of tunnels winding underground down to 4500 feet below surface.
However, the project is in its very early stages. The company says it plans to have a preliminary project description finished by late summer. The prefeasibility study and an environmental impact statement would follow in 2013.
Another prospective Minnesota mine, Polymet Mining’s copper-nickel-precious metals project, is located 30 miles south of Twin Metals. Polymet’s proposal to build an open-pit mine and concentrator for $602 million has been under environmental review since 2005, according to The Tribune.
2 Comments
mikekelley10
I think the Obama EPA’s strategy is to hold up permits for new mines, etc. until all the investors have died of old age. This is what happens when you put the Sierra Club in charge of our country.
disqussted999
“Polymet Mining’s copper-nickel-precious metals project, is located 30 miles south of Twin Metals. Polymet’s proposal to build an open-pit mine and concentrator for $602 million has been under environmental review since 2005”
Get the story right: “Polymet Mining….has been under environazi attack by the EPA since 2005.”