The Minnesota Supreme Court today granted review of a Minnesota Court of Appeals ruling on the NorthMet Permit to Mine and dam safety permits, according to Poly Met Mining, Inc., a wholly owned subsidiary of PolyMet Mining Corp. (together PolyMet or the company) TSX: POM; NYSE American: PLM.
PolyMet and the Department of Natural Resources (DNR) had petitioned the Supreme Court in February to overturn the lower courts January 13 ruling, which remanded the three permits to the DNR for a contested case hearing.
We are pleased the court agreed to review this case, which naturally is of great importance to PolyMet, but also has potentially far-reaching effects on any business seeking permits from the state, said Jon Cherry, president and CEO. The court of appeals interpretation of the statute creates tremendous uncertainty for companies who want to invest in Minnesota and must seek permits from the DNR and Pollution Control Agency. We are looking forward to presenting our case to the Minnesota Supreme Court.
PolyMet Mining Corp. (www.polymetmining.com) is a publicly traded mine development company that owns 100% of Poly Met Mining, Inc., a Minnesota corporation that controls 100% of the NorthMet copper-nickel-precious metals ore body through a long-term lease, and owns 100% of the former LTV Steel Mining Company processing facility, located approximately seven rail miles from the ore body in the established mining district of the Mesabi Iron Range in northeastern Minnesota. Poly Met Mining, Inc. has completed its Definitive Feasibility Study and received all permits necessary to construct and operate the NorthMet Project. NorthMet is expected to require approximately two million hours of construction labor, create approximately 360 long-term jobs directly, and generate a level of activity that will have a significant multiplier effect in the local economy.
This news release contains certain forward-looking statements concerning anticipated developments in PolyMets operations in the future. Forward-looking statements are frequently, but not always, identified by words such as expects, anticipates, believes, intends, estimates, potential, possible, projects, plans, and similar expressions, or statements that events, conditions or results will, may, could, or should occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMets forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or managements beliefs, expectations and opinions should change.
Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMets most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2018, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.
The Annual Report on Form 40-F also contains the companys mineral resource and other data as required under National Instrument 43-101.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Bruce Richardson, Corporate Communications
Tel: +1 (651) 389-4111
Tony Gikas, Investor Relations
Tel: +1 (651) 389-4110