Twin Metals Minnesota LLC:is a joint venture company, formed to pursue the development and operation of an underground copper, nickel and platinum group metals (strategic metals) mining project in northeastern Minnesota. Currently, Twin Metals Minnesota is in the prefeasibility stage of project development. Twin Metals Minnesota is 60 percent owned by Duluth Metals Limited and 40 percent by Antofagasta PLC. Twin Metals Minnesota maintains offices in St. Paul, Babbitt and Ely, Minn.
Duluth Metals Limited: is a mineral exploration company searching for copper, nickel and platinum group metal deposits. Duluth Metals retains a 100 percent position on approximately 31,000 acres of mineral interests on exploration properties outside of the joint venture. Duluth Metals is based in Canada with its U.S. headquarters in St. Paul, an exploration office in Duluth and a field operations office in Ely, Minn.
Antofagasta PLC: Antofagasta is a renowned copper mining company with an outstanding environmental and social responsibility track record. The company is based in Chile where it owns and operates four copper mines. It produced 640,500 tonnes of copper in concentrate and copper cathode in 2011 and is forecasting an increase in production to approximately 700,000 tonnes in 2012. Antofagasta is one of the top 10 copper producers in the world with exploration and evaluation programs in North America, Latin America, Africa, Asia and Australia and is looking to grow its portfolio.
