In the News

Twin Metals Minnesota Statement on Action by U.S. Department of the Interior to Reinstate Federal Mineral Leases in Northeast Minnesota

ST. PAUL, Minn., May 2, 2018 – Twin Metals Minnesota issued the following statement in response to today’s action by the U.S. Bureau of Land Management (BLM) to formally reinstate two federal mineral leases held by the company in Northeast Minnesota. The formal reinstatement of the leases follows a U.S. Department of the Interior (DOI) legal opinion issued in December 2017 affirming Twin Metals’ right to renewal of the leases, which the company and its predecessors have held in good standing for more than 50 years. The December 2017 legal opinion negated actions taken in 2016 by the BLM and the U.S. Forest Service (USFS) to deny the renewal of the two Twin Metals leases. Twin Metals’ federal leases are important components of the underground mine project proposal the company is preparing for submittal to state and federal agencies for extensive review through an Environmental Impact Statement.

“Twin Metals is pleased with today’s action by the U.S. Department of the Interior (DOI) to reinstate Twin Metals’ federal mineral leases held in Northeast Minnesota. The formal reinstatement of the leases is an important step in the lease renewal process, as described and affirmed in the December 2017 DOI legal opinion. Today’s reinstatement will also allow Twin Metals to resume environmental study and project development activities on the federal leases yet this summer. Twin Metals looks forward to working with federal agencies in the coming months to complete the proper process of renewing the company’s federal leases.

Twin Metals’ federal mineral leases were first issued by the federal government in 1966 with a right of unlimited, successive 10-year renewals. The leases were renewed by BLM and USFS without controversy in 1989 and again in 2004. Twin Metals filed for the third renewal of the leases in late 2012.

Twin Metals has invested more than $400 million to date in acquisition, exploration, technical, environmental, and other project development activities. The Twin Metals project will meet all state and federal environmental standards, provide hundreds of jobs for generations of Minnesotans, and result in billions of dollars of environmentally responsible economic growth in the region.

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About Twin Metals Minnesota: Twin Metals Minnesota is a Minnesota company focused on designing, constructing and operating an underground copper, nickel, platinum, palladium, gold and silver mining project (TMM Project) in the Iron Range region of Northeast Minnesota. The TMM Project brings the promise of significant long-term jobs and environmentally responsible economic development for generations in Minnesota. Twin Metals is owned by Antofagasta plc, one of the top ten copper producers in the world. For more information, visit https://www.twin-metals.com/ and https://www.facebook.com/TwinMetalsMN/.

Contact:
Bob McFarlin
bmcfarlin@www.twin-metals.com
612-655-2099