View Full Version : Polymet Mining

14th December 2017, 12:20 PM
I am careful to recommend stocks or anything, but I think Polymet Mining (PLM) is really worth looking at right now. Disclosure- I am putting a lot into it in my retirement account. This is going to be a huge Copper/Nickel mine in northern Minnesota with cobalt, PGMs, and gold (smaller amounts of those mainly copper/nickel). It is financially supported by Glencore. It has support of the Mn governor and is on the verge of getting its permits to mine. The Rep. for the area created a bill to speed-up the federal land exchange required and it passed the House last week, sitting in the Senate. It is sitting at around $0.70/share now, and I see conservative price targets of $2-3/share. This is on the verge of popping (if it is going to pop). Just thought I would pass it along.


14th December 2017, 01:24 PM

I picked up a very small 2000 shares.
After all it's in my backyard. Only 350 miles from here.

14th December 2017, 01:26 PM

I picked up a very small 2000 shares.
After all it's in my backyard. Only 350 miles from here.

Get over there and tell us what is happening! Get some pics.

14th December 2017, 01:48 PM
AMY KLOBUCHAR-"COUNTRY WAS BUILT ON THE BACKS OF MINERS" (http://www.virginiamn.com/mine/article_8cde0554-4192-11e3-9269-001a4bcf887a.html#.UnJRC6mdlUs.twitter)

14th December 2017, 03:29 PM
Get over there and tell us what is happening! Get some pics.

It's even colder there than here.

Maybe next summer.

5th January 2018, 07:24 AM
Positive Sign for PolyMet . . .

DNR releases PolyMet permit to mine (http://www.duluthnewstribune.com/business/4383296-dnr-releases-polymet-permit-mine?amp=)

Posted Today at 8:11 a.m.


The Minnesota Department of Natural Resources this morning released the long-awaited draft permit-to-mine for the proposed PolyMet copper-nickel project between Hoyt Lakes and Babbitt.

The draft permit is now open for public review, comments and objections for 60 days, with public hearings set for February in Aurora and Duluth, before the DNR could make the permit final.

Legal ads heralding the draft permit are set to run in the News Tribune and other newspapers starting Saturday.

The permit-to-mine is considered the most important of the 23 state and federal permits the company needs to start work on Minnesota's first-ever copper-nickel mine. The permit lays out details of how the company will construct, operate and close the project estimated at $650 million with 300 employees and then treat wastewater leaving the site to avoid release of potentially toxic mine wastewater, both during operations and for possibly decades after.

Release of the draft permit signals the DNR is mostly satisfied with the company's mining plan.

The permit also will include details of how much money the company will need to keep on hand and available to the state to spend to close and rehabilitate the site even if PolyMet goes bankrupt. That amount will start at $75 million during the first year of construction, ramp up to $544 million during the first year of mining and peak at more than $1.1 billion in the 11th year, considered the peak year for exposure to any problems.

The financial assurance package will also include requirements for PolyMet to guarantee payment of liability insurance premiums to cover catastrophes not expected during normal mining operations or after the mine closes.

Critics of the PolyMet project say it stands too great a chance of releasing tainted mine wastewater into the St. Louis River ecosystem. They are expected to call for a contested case hearing before a state administrative law judge. DNR Commissioner Tom Landwehr will make the decision on whether those hearings are necessary after the public input process concludes. Opponents of the project can appeal his decision to the Minnesota Court of Appeals.

Once permits are granted it will take PolyMet nearly two years to build the mine and refurbish the long-idled LTV Steel taconite plant to process the copper-bearing ore. The company hopes to be mining copper by late 2020.

5th January 2018, 08:02 AM
Up to $1/share today so far. Closed at $0.70 when I opened this thread.

News to follow: Any public comments; Senate vote on land exchange (House passed); Possible Glencore funding or buyout...

Polymet Mining (PLM) Stock: Gaining Big On Permit News (https://cnafinance.com/polymet-mining-plm-stock-gaining-big-on-permit-news/17569)

5th January 2018, 11:11 AM
PolyMet is nearly clear to build controversial Iron Range mine (https://www.mprnews.org/story/2018/01/05/dnr-polymet-copper-nickel-mine-draft-permit-iron-range)



26th January 2018, 11:01 AM
The Forest Service is backing off of an extensive environmental review for Polymet. All the draft permits have been issued as of two days ago. There will be a public meeting in February, and public comments close in March. I think this thing is about to take off.


I find it curious that this article is coming out of Central California. There is a lot of big/old money in Central California. The very rich have carved out a protected and beautiful place to live for themselves and those that serve them. They also thrive more by investing then by producing directly.

Article just got removed! This covers the issue also: http://www.duluthnewstribune.com/business/energy-and-mining/4394113-forest-service-rolls-back-study-mining-near-boundary-waters (related to Twin Metals project- geographically very close, and potentially a customer of Polymet's processing plant).

Here is a better one: http://minnesota.cbslocal.com/2018/01/26/polymet-mine-review-downgraded/

26th January 2018, 01:05 PM
Just hit the Washington Post, at least indirectly (refers to Twin Metals, but effects PLM directly):

Trump administration cancels detailed review of Obama-era mining ban near Minnesota wilderness (https://www.washingtonpost.com/news/energy-environment/wp/2018/01/26/trump-administration-cancels-detailed-review-of-obama-era-mining-ban-near-minnesota-wilderness/?utm_term=.25ed7b371716)

28th January 2018, 04:42 AM
You’re gonna get rich as trolls

14th June 2018, 10:22 AM
Looks like the key obstacle to the mine moving forward has just been resolved:

PolyMet land swap with Forest Service to close June 28 (https://www.duluthnewstribune.com/business/energy-and-mining/4460364-polymet-land-swap-forest-service-close-june-28)
"...PolyMet Mining Co. this morning said it has received notice from the U.S. Forest Service that the land exchange for the company's proposed mine north of Hoyt Lakes will officially close June 28, giving PolyMet title to the mine site..."

"...Meanwhile, PolyMet is awaiting state and federal permits to build and operate the mine and processing center at the site of the former LTV Steel Mining taconite plant.The company also must secure nearly $1 billion to build the project..."

Glencore will likely buyout once the permits are granted. From what I recall, permits were basically awaiting the land exchange (JQP).

1st November 2018, 11:27 AM
BREAKING: Minnesota DNR approves permits for proposed PolyMet NorthMet projec (https://cbs3duluth.com/news/2018/11/01/minnesota-dnr-to-announce-decisions-on-polymet-permits/)t

ST. PAUL, MN – The Minnesota Department of Natural Resources announced Thursday its approval for several major permits for the PolyMet mining project on the Iron Range.
They include the permit to mine, six water appropriation permits, two dam safety permits, a public waters work permit, and an endangered species takings permit for the NorthMet project.
The permit to mine includes a financial assurance plan and wetland replacement plan.
Thursday’s announcement means PolyMet has completed its decision making process on the permit applications.
The project still requires water and air quality permits from the Minnesota Pollution Control Agency and a wetlands permit from the Army Corps of Engineers, in addition to other local permits and approvals.
PolyMet President and CEO Jon Cherry issued the following statement after the permits were issued:
“We look forward to building and operating a modern mine and developing the minerals that sustain and enhance our modern world. Responsibly developing these strategic minerals in compliance with these permits while protecting Minnesota’s natural resources is our top priority as we move forward.”
Cherry went on to say the permit “is a victory for Iron Range families who have steadfastly supported us and who depend on and will benefit from the hundreds of jobs that construction and operations will create adn support for years to come. This certainty will also allow the company to move forward with financing and final engineering designs.”
PolyMet is looking to be the first to have a copper and nickel mine, in addition to platinum, palladium, gold and cobalt, on the Iron Range.
Before the permit to mine was issued, PolyMet provided $74 million in financial assurance for the construction phase of the project, which is expected to last about two years.
Environmentalists have opposed the mine for fear it could pollute pristine waters.
PolyMet says it can operate the proposed mine near Hoyt Lakes and Babbitt without harming the environment while creating hundreds of badly needed jobs on Minnesota’s Iron Range.
More information on the mining project can be found here (https://www.dnr.state.mn.us/polymet/permitting/index.html).
We will provide a live stream of a news conference with the Minnesota DNR at 1 p.m.
This is a breaking story, and we will have more details as they become available.

20th December 2018, 09:13 AM
Minnesota Issues Last of Its Major Permits For PolyMet Copper-nickel Mine (https://www.businesswire.com/news/home/20181220005572/en/)
Water and air permits and 401 certification issued by Minnesota Pollution Control Agency

December 20, 2018 11:09 AM Eastern Standard Time
ST. PAUL, Minn.--(BUSINESS WIRE (https://www.businesswire.com/))--Poly Met Mining, Inc., a wholly-owned subsidiary of PolyMet Mining Corp. (together “PolyMet” or the “company”) TSX: POM; NYSE American: PLM, reports it has received the final remaining state approvals for PolyMet to construct and operate the NorthMet copper-nickel-precious metals project in northeastern Minnesota...

20th December 2018, 05:12 PM
Looks interesting, too bad the REALLY richest folks in the near future will be CRYPTO investors, not mining stock holders.

20th December 2018, 05:46 PM
Minnesota OKs final major state permits for PolyMet mine (https://www.foxbusiness.com/markets/minnesota-oks-final-major-state-permits-for-polymet-mine)By STEVE KARNOWSKIPublished December 20, 2018Features (https://www.foxbusiness.com/features)Associated Press (http://www.ap.org/)

Picked up by Fox Business...

4th February 2019, 05:55 PM
Listen to this guys brief opinion of PLM at about the 20:11 mark. He's positive to very positive on almost every other company in this video except PLM.

Is their management that bad?


5th February 2019, 08:07 PM
Listen to this guys brief opinion of PLM at about the 20:11 mark. He's positive to very positive on almost every other company in this video except PLM.

Is their management that bad?

Is it JohnQPublic who is managing it?

5th February 2019, 08:51 PM
i looked at the stock price chart. it is not reflecting this good news (yet?)

22nd March 2019, 08:34 AM
Final permit obtained: Federal wetlands exchange allowed by the EPA