Minnesota Issues Permit to Mine for PolyMet Copper-Nickel Mine

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 its Permit to Mine from the State of Minnesota, a crucial permit for construction and operation of the NorthMet Project in northeastern Minnesota.

PolyMet’s Permit to Mine is the first non-ferrous mining permit to be issued in the State of Minnesota. The Department of Natural Resources also issued all other permits for which the company has applied including dam safety, water appropriations, takings, and public waters work permits, along with Wetlands Conservation Act approval. These permits were issued after the company demonstrated that its designs meet strict state environmental standards and at the conclusion of an extensive public input process.

“We look forward to building and operating a modern mine and developing the minerals that sustain and enhance our modern world,” said Jon Cherry, president and CEO. “Responsibly developing these strategic minerals in compliance with these permits while protecting Minnesota’s natural resources is our top priority as we move forward.”

PolyMet aims to be the first to commercially produce copper and nickel, in addition to platinum, palladium, gold and cobalt, from the world-class Duluth Complex in the Iron Range’s historic mining district.

The Permit to Mine authorizes the company to build and operate open pit mining operations that are expected to yield approximately 1.2 billion pounds of copper, 170 million pounds of nickel, 6.2 million pounds of cobalt and 1.6 million troy ounces of precious metals over a 20-year mine life. The 225 million tons of ore permitted for extraction represents roughly one third of the NorthMet 649-million-ton Measured and Indicated Resource as described in the company’s 2018 National Instrument 43-101 Technical Report, which is filed under the company’s SEDAR and EDGAR profiles.

Cherry said the Permit to Mine provides a level of certainty for which the community and investors have been waiting. “It 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 and support for years to come. This certainty will also allow the company to move forward with financing and final engineering designs.”