Welcome To The Polymet Mining Corp HUB On AGORACOM
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PolyMet Mining Corp. is a Canadian mine development company whose shares trade actively on the American (PLM) and Toronto (POM) stock exchanges.
PolyMet owns the Erie Plant, a large crushing and milling facility with extensive associated infrastructure, and controls 100% of the nearby NorthMet copper-nickel-precious metals project located in the established mining district of the Mesabi Range in northeastern Minnesota. The assets comprise:
- 100% leasehold interest in a large copper-nickel-precious metals ore body with SEC-standard proven and probable reserves, and
- 100% of the Erie Plant, which is a very large crushing and grinding facility optioned in 2003 and acquired in 2005 that provides PolyMet with most of the equipment needed to commence production.
PolyMet is in the late stages of the environmental review process. The Draft Environmental Impact Statement (EIS) is expected to be completed by the State of Minnesota around the end of the second quarter 2008, with permitting around the end of the fourth quarter of 2008 and initial production of concentrates in late-2009 while construction and commission of a new hydrometallurgical plant is being completed. The Company plans to produce three products on site:
- high grade copper cathode;
- nickel-cobalt hydroxide, and
- precious metals precipitate.
The nickel-cobalt hydroxide and the precious metals precipitate will be sold under long-term offtake contracts with third party processors.
The Company has a strong management team that is highly experienced in the construction, finance and operation of large-scale mining projects.