Ely Echo

Private sector investment in non-ferrous leases and mineral exploration is up significantly in recent years. While exploration is active, non-ferrous metallic mining has not been permitted in Minnesota to date. The mineral royalty revenue potential to the school trust from non-ferrous sources is significant.

The DNR’s Division of Lands and Minerals currently estimates that three non-ferrous metallic mineral deposits identified as potential mines could generate $2.4 billion in added revenue to the Permanent School Fund over the life of the mines.