13 Dec 2017
December 13, 2017

PolyMet Submits Financial Assurance Details

December 13, 2017

Duluth News Tribune
John Myers

PolyMet has submitted the last major details for the company’s most important mining permit, outlining how they will guarantee money is available to properly close the operation and treat water after the proposed copper mine is played out.

PolyMet submitted to the state the last chapter of its permit-to-mine on Tuesday, which the Minnesota Department of Natural Resources made public Wednesday afternoon on the project’s state website.

The so-called “financial assurance” chapter of the permit application essentially details PolyMet’s proposal for the safety net that will be required by the state in case the company is no longer viable when the reclamation work needs to be done.


“This is the last thing the state needs before they can put the permit out for people to comment on,” Cherry told the News Tribune.

If the DNR deems the proposed financial assurance package satisfactory it’s possible the entire permit-to-mine would be released for public comment, including public hearings, early in 2018. PolyMet hopes to receive all the necessary permits early next year and start construction as early as next summer, producing its first copper concentrate by 2020.

Read More: https://www.duluthnewstribune.com/business/4373707-polymet-submits-financial-assurance-details