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BLM renews TMM federal leases

Mining News - Published on Mon, 20 May 2019

Image Source: PR Newswire
Twin Metals Minnesota announced the federal Bureau of Land Management (BLM), in consultation with the US Forest Service, has renewed TMM’s federal mineral leases, held in good standing for more than 50 years. The leases cover land nine miles southeast of Ely, Minn, site of one of the world’s largest untapped deposits of copper, nickel, and platinum group metals, and including the area where TMM is preparing a proposal for an underground mine.

The announcement was made by Department of Interior Assistant Secretary for Land and Mineral Management Joe Balash. Congressman Pete Stauber (MN-08) and Congressman Tom Emmer (MN-06) attended the announcement. The renewed leases add new conditions, including higher annual royalty payments, project milestones, and additional environmental requirements.

Kelly Osborne, TMM chief executive officer, said that “This lease renewal is a critical step to allow us to present a proposal for our underground mine project. It’s very good news for us and for the communities in northeastern Minnesota who look forward to the hundreds of jobs and major economic development this mine will bring.”

In the coming months, TMM will submit its mine proposal to state and federal agencies, launching an extensive and rigorous environmental and scientific review by regulatory agencies, a process which requires significant input from the public. TMM is already working with the BLM, USFS, Minnesota Department of Natural Resources, and other government regulatory agencies to facilitate this process.

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Posted By : Rabi Wangkhem on Mon, 20 May 2019
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