The Twin Metals Minnesota proposed underground mine project has the potential to be one of the world’s largest and lowest-cost sources of copper, nickel and platinum group metals for up to a century. Twin Metals Minnesota is dedicated to making a long-term investment in Minnesota.
Twin Metals Minnesota is already having a significant impact on job creation and economic development in Minnesota. To date, more than $400 million has been invested in exploration and project development activities, supporting up to 200 direct and consultant/contractor jobs, and additional spin-off jobs and economic activity. The draft National Instrument (NI) 43-101 Technical Report on the TMM Project PFS estimates that the initial capital investment to build the TMM Project will be $2.77 billion. Over the 30-year life of the mine, capital investment is estimated at $5.41 billion.
According to a 2012 University of Minnesota-Duluth study, mining activities in Minnesota generated $152 million in state and local tax revenue in 2011. The Twin Metals Minnesota project will not only add millions to state and local taxes, but will provide a significant boost to the Iron Range’s regional economy.