Twin Metals Minnesota has approximately 32,000 acres of property interests – leased, permitted or owned – on the northern edge of Minnesota’s Iron Range. Babbitt is roughly 10 miles to the west and Ely is roughly 15 miles to the northwest. Within this area are three NI 43-101 compliant mineral deposits: Maturi, Spruce Road and Birch Lake.
A mining project of this magnitude is brought to life through a multi-year process involving cooperation between multiple public, private and local, state and federal government stakeholders. After the strategic metals deposits were identified by Duluth Metals Limited, the company formed a partnership with Antofagasta PLC, and together they founded Twin Metals Minnesota LLC in January 2010
In February 2011, Twin Metals Minnesota acquired Franconia Minerals Corporation, effectively doubling Twin Metal Minnesota’s mineral and land assets, providing the opportunity for greater efficiency, more jobs and maximum environmental protection for the project.
During the summer of 2011, Twin Metals Minnesota conducted a “conceptual study,” involving a comprehensive analysis at the strategic level of the initial project proposal, various project alternatives, risk and opportunities, project economics, potential environmental impacts and protections, and social and community impacts and benefits. The results of the conceptual study were to confirm the project’s conceptual viability from economic, environmental and social perspectives, and to narrow the range of project options in a variety of areas put forward for more detailed analysis in the prefeasibility study.
Twin Metal Minnesota launched the project’s prefeasibility study (PFS) in October 2011. During PFS, Twin Metals will evaluate significant project details such as environmental protection strategies, proper mine processing technologies, potential facility locations, and estimated economic impacts such as job creation and tax revenues.
The PFS will result in a detailed Mine Plan of Operation that will be subject to rigorous, thorough and lengthy environmental review by multiple state and federal agencies. By design, the Twin Metals Minnesota project will exceed state and federal environmental protection standards, which are among the most stringent in the world.
Throughout the project development process, Twin Metals Minnesota will be conducting “in-fill” drilling, focused on better defining the scope, depth and breadth of the targeted ore deposits.
Other activities include metallurgical testing of strategic metal ore samples and the collection of environmental baseline data used to characterize specific chemical, physical, biological or environmental components of the study area.