The project area encompasses three NI 43-101 compliant mineral deposits – Maturi, Spruce Road and Birch Lake – located approximately 10 miles east of Babbitt, Minn. and 15 miles southeast of Ely, Minn.
UNDERGROUND MINE PROTECTS ENVIRONMENT
The Twin Metals Minnesota proposed underground mine will protect the environment by limiting surface impacts and providing opportunity for underground tailings storage.
DURATION OF MINE OPERATION
Twin Metals Minnesota’s underground mine has the potential to be operational for up to a century.
Copper, nickel, platinum, palladium and gold – metals of strategic importance to the U.S. economy and national defense.
PREFEASIBILITY STUDY (PFS)
Twin Metals Minnesota is currently conducting the project’s PFS to evaluate such details as mine design, facility locations, mining rate, transportation and transmission corridors, economic benefits, job creation and environmental protection.
Twin Metals Minnesota and its predecessor Duluth Metals Limited have been conducting environmental studies and assessments for more than five years – and that effort is continuing under the PFS. Key environmental issues include surface water quality and hydrology, threatened and endangered species, air quality, plant life, wetlands and socioeconomic factors.
ENVIRONMENTAL AND OPERATING PERMITS
More than 100 federal and state environmental permits will be required to plan, construct and operate the proposed underground mine. Multiple federal and state regulatory agencies and Native American organizations will be part of the permitting process.
Twin Metals Minnesota currently has more than 40 Minnesota-based employees across its three offices. Through its project development activities, Twin Metals also supports approximately 200 consulting/contractor jobs.
JOBS FOR GENERATIONS
The Twin Metals Minnesota project will create thousands of construction jobs and hundreds – potentially thousands – of long-term mining jobs.
- From 2012-2016, more than 5,000 Minnesota construction jobs will be created when all strategic metals mining projects in Minnesota move forward.*
- By 2016, more than 1,300 long-term Minnesota mining jobs will be created when all projects become operational.*
- For every one mining job created in Minnesota another 1.8 spinoff jobs will also be created.*
Average mining wages and benefits significantly outpace other industries in Minnesota.
- According to the U.S. Bureau of Labor Statistics, the average annual wage for a Minnesota mining job is $72,365, more than $25,000 above the all-industries average. Mining offers living wages that can support a family, sustain communities and drive economic growth.
More than $160 million has been invested in exploration and project development to date.
SUPPORTING MINNESOTA COMPANIES
In the period from January 2011 through June 2012, Twin Metals Minnesota spent approximately $80 million with vendors and suppliers, with more than $59 million (74 percent) spent with Minnesota businesses.
TAX REVENUE AND ROYALTIES
The underground mine will generate significant tax and royalty revenue for state and local governments as well as local school districts.