03 Nov 2014
November 3, 2014

Chilean Mining Giant Buying Duluth Metals, Minnesota Copper Interests

November 3, 2014

MPR News
Martin Moylan

Duluth Metals, the firm that’s been pushing to build a copper-nickel mine in northeast Minnesota, said Monday it is selling its operations to Chilean mining giant Antofagasta PLC for about $85 million.

Antofagasta and Duluth Metals have been partners in Twin Metals Minnesota, which wants to build a massive underground mine near Ely, Minnesota, just a few miles south of the Boundary Waters Canoe Area Wilderness.

The region may hold what could be the world’s largest untapped source of copper and other precious metals valued at perhaps $100 billion.

Read more: http://www.mprnews.org/story/2014/11/03/duluth-metals-sale-to-antofagasta