HOYT LAKES, MINNESOTA--(Marketwire - Oct. 5, 2009) - PolyMet
Mining Corp. (TSX:POM)(NYSE Amex:PLM) ("PolyMet" or the "Company") reported
the following announcement by the Minnesota Department of Natural
Resources:
October 2, 2009 - The Minnesota Department of Natural Resources (DNR)
announced today that the state's public comment period for the draft
environmental impact statement (draft EIS) for PolyMet
Mining's proposed NorthMet project will begin
on Nov. 2 when the draft EIS is published in the biweekly Environmental
Quality Board Monitor.
The draft EIS will be available on the DNR Web site the week of Oct.
19. DNR staff is concluding an internal review process to ensure that
the draft EIS reflects comments from government agencies, and
performing internal consistency checks on the document.
PolyMet's proposed nonferrous mining project
would be the first copper-nickel mine and processing plant in Minnesota. The
project raises potential environmental concerns that are different from
those associated with taconite, or ferrous, mining that have added to
the complexity of the environmental review process.
The DNR and the U.S. Army Corps of Engineers (USACE) are the lead state
and federal agencies charged with drafting the EIS to describe the
potential significant environmental impacts of the proposed project.
The DNR will schedule two public information meetings during the public
comment period, one in the Hoyt
Lakes area and
one in the Minneapolis-St. Paul area. Following the public comment
period, the draft EIS will be revised as needed, including responses to
comments in the final EIS. This can take several months to complete.
The USACE will publish its own draft EIS in the Federal Register on the
Friday immediately following publication in the Environmental Quality
Board Monitor.
The EIS drafting process began in April 2006 following a public scoping
period.
Located near Hoyt Lakes in northeastern
Minnesota,
the NorthMet mine would have an anticipated
operating life of 20 years. It would be subject to several state and
federal operating permits requiring monitoring and mitigation during
operation and after closure.
For more information on the proposed project, go to: http://www.dnr.state.mn.us/input/environmentalreview/polymet/index.html
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a publicly-traded mine development company that controls
100% of the NorthMet copper-nickel-precious
metals ore body through a long-term lease and owns 100% of the Erie
Plant, a large processing facility located approximately six miles from
the ore body in the established mining district of the Mesabi Range in northeastern Minnesota. PolyMet
Mining Corp. has completed its Definitive Feasibility Study and is
seeking environmental and operating permits to enable it to commence
production. The NorthMet project is expected
to require approximately one million man hours of construction labor and create at least 400 long-term jobs, a
level of activity that will have a significant multiplier effect in the
local economy.
POLYMET MINING CORP.
Joe Scipioni, President
This news release contains certain forward-looking statements
concerning anticipated developments in PolyMet's
operations in the future. Forward-looking statements are frequently,
but not always, identified by words such as "expects,"
"anticipates," "believes," "intends,"
"estimates," "potential," "possible," and
similar expressions, or statements that events, conditions or results
"will," "may," "could," or
"should" occur or be achieved. These forward-looking
statements may include statements regarding exploration results and
budgets, reserve estimates, mineral resource estimates, work programs,
capital expenditures, timelines including timelines for third-party
studies and issuance of permits to operate by various government
agencies, strategic plans, the market price of metals, costs, or other
statements that are not a statement of fact. Forward-looking statements
address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements due to a variety of
risks, uncertainties and other factors. PolyMet's
forward-looking statements are based on the beliefs, expectations and
opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update
forward-looking statements if circumstances or management's beliefs,
expectations and opinions should change.
Specific reference is made to PolyMet's most
recent Form 20-F/Annual Information Form on file with the SEC and
Canadian securities authorities for a discussion of some of the risk
factors and other considerations underlying forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
|