Mines Management Inc.

Published : December 16th, 2015

Montana silver, copper mine clears key hurdle; lawsuit looms

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Keywords :   Copper | Idaho | Judge | Lead | Silver |

Montana silver, copper mine clears key hurdle; lawsuit looms

BILLINGS, Mont. (AP) -- A proposed silver and copper mine beneath northwestern Montana's Cabinet Mountains Wilderness cleared a significant hurdle Tuesday with the completion of an environmental study in the works for the past decade.

A final decision on the Montanore mine near the Idaho border could come by late January, said Craig Jones with the Montana Department of Environmental Quality.

Mines Management Inc. of Spokane, Washington, is proposing to remove up to 120 million tons of ore from the underground mine, which would disturb more than 1,500 acres of land just outside the wilderness area. Included is a 14-mile transmission line to carry power to the site near Libby, Montana.

State regulators and U.S. Forest Service officials must approve the project.

"It's been a long, 11-year journey permitting this project," said Mine Management Chairman Glenn Dobbs. "We look forward to being able to provide a lot of jobs in an area of the country that really needs them."

Environmental groups are strongly opposed. They sued the federal government in June over concerns that mining would harm federally protected grizzly bears and bull trout.

The Cabinet-Yaak ecosystem on the Montana-Idaho border is one of six areas in the continental United States where biologists are seeking to restore grizzly bear populations.

The U.S. Fish and Wildlife Service said last year that the mine could lead to the loss of one federally protected grizzly bear. But it said required mitigation — including the purchase of 5,000 acres of grizzly habitat at risk for development — will make up for the loss.

The agency said bull trout populations also could suffer losses in certain streams close to the mine site but not enough to threaten the species' overall survival.

An attorney for the plaintiffs in the lawsuit — Save Our Cabinets, Earthworks and Defenders of Wildlife— said federal officials offered too little evidence to support their claims.

"We believe the project will jeopardize those species," said Katherine O'Brien with the law firm Earthjustice. O'Brien said the plaintiffs would seek to halt the mine if it's approved, until their claims are resolved.

Once a decision is made, Dobbs said his company would spend up to two years and $30 million further evaluating Montanore's mineral reserves. It would take up to three years to construct the mine for about $500 million.

The mine would employ about 500 people during the construction phase and about 350 during mining.

Work on the mine site began around 1990 under different ownership but was suspended in 1991 due to low metal prices. Mines Management later took over and applied to the state for a mining permit in 2004.

Earlier this year, a group of investors led by former Montana Gov. Brian Schweitzer sought $10 million from Mines Management in a federal court proceeding. Schweitzer's group, known as Optima Inc., said it held mining rights in the area and deserved compensation.

U.S. District Judge Dana Christensen rejected Optima's arguments, saying its mining claims had no value. An appeal is pending.

Read the rest of the article at sg.finance.yahoo.com

Mines Management Inc.

DEVELOPMENT STAGE
CODE : MGN
ISIN : US6034321058
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Mines Management is a silver and copper development stage company based in United states of america.

Mines Management holds various exploration projects in USA.

Its main asset in development is MONTANORE (ROCK LAKE) in USA.

Mines Management is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 38.4 millions as of today (€ 34.2 millions).

Its stock quote reached its highest recent level on January 10, 1997 at US$ 937.00, and its lowest recent point on February 08, 2002 at US$ 0.05.

Mines Management has 33 990 000 shares outstanding.

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Annual reports of Mines Management Inc.
2008 Annual report
Annual Report 2007
Financings of Mines Management Inc.
4/5/2011ANNOUNCES EXERCISE OF UNDERWRITER’S OVER-ALLOTMENT OPTION
3/14/2011MINES MANAGEMENT, INC. PRICES $15 MILLION PUBLIC OFFERING
3/3/2011COMMON STOCK OFFERING
2/11/2010announces extension and reprice of warrants
11/5/2007ANNOUNCES COMPLETION OFUS$10 MILLION PRIVATE PLACEMENT WITH ...
Nominations of Mines Management Inc.
10/1/2009Appoints Michael G. Rasmussen as Vice president or explorati...
12/20/2007 ANNOUNCES APPOINTMENTS TO ITS PROFESSIONAL STAFF AT THE MON...
Financials of Mines Management Inc.
5/3/2011YEAR-END EARNINGS RELEASE
4/26/2010Announces 2009 operating results
9/9/2009Second quarter financial and operating results
6/1/2009Announces first quarter results
4/8/2008Announces 2007 Year End Financial Results
11/15/2007Announces Third Quarter Earnings and Montanore Project Updat...
8/21/2007SECOND QUARTER RESULTS
5/17/2007 Announces First Quarter Results
Project news of Mines Management Inc.
12/16/2015Montana silver, copper mine clears key hurdle; lawsuit looms
8/19/20159:02 am Mines Management announces a favorable US court ruli...
2/4/2011(Montanore (rock Lake)) Technical Report For Montanore Silver-Copper Project
7/13/2009 Updates permitting activities at the Montanore project
3/2/2009(Montanore (rock Lake))ANNOUNCES RELEASE OF DRAFT ENVIRONMENTAL IMPACT STATEMENT .....
7/14/2008(Montanore (rock Lake))State of Montana Approves Montanore Hard Rock Mining Impact ...
11/19/2007(Montanore (rock Lake)) ANNOUNCES COMPLETION OF IMPORTANT MILESTONE IN MONTANORE PR...
11/9/2007(Montanore (rock Lake))PURCHASES UNDERLYING ROYALTY ON MONTANORE PROJECT
3/28/2007(Montanore (rock Lake))Files Preliminary Prospectus Supplement to Raise Gross Proce...
Corporate news of Mines Management Inc.
8/19/2016Mines Management Reports Second Quarter 2016 Financial Resul...
7/8/2016Mines Management's Compliance Plan Extended by NYSE MKT
5/24/2016What Hecla Really Gets With This Small Acquisition
5/24/2016Hecla to Acquire Mines Management
4/6/2016Mines Management's Compliance Plan Extended by NYSE MKT
4/5/2016Mines Management Reports 2015 Financial Results and Montanor...
3/21/2016Mines Management Engages Financial Advisor
2/12/2016The Latest: Mine developer says partial approval is enough
1/21/2016Mines Management's Compliance Plan Extended by NYSE MKT
1/21/2016Mines Management Inc.'s Compliance Plan Extended by NYSE MKT
12/21/2015Mines Management's Montanore Silver-Copper Project Receives ...
12/21/2015Mines Management Inc.'s Montanore Silver-Copper Project Rece...
12/18/2015Mines Management Reports Third Quarter 2015 Financial Result...
10/27/2015Mines Management Inc.'s Compliance Plan Approved and Extende...
10/9/2015Mines Management Raises Cash; Provides Update on Financial M...
10/9/2015Mines Management Inc. Raises Cash and Provides Update on Fin...
9/23/2015NYSE MKT Accepts Mines Management, Inc. Plan to Regain Compl...
8/21/2015Mines Management Reports Second Quarter 2015 Financial Resul...
8/21/2015Mines Management Inc. Reports Second Quarter 2015 Financial ...
8/20/2015Federal Court Rules in Favor of Mines Management Regarding C...
8/19/2015Federal Court Rules in Favor of Mines Management Regarding C...
8/18/2015Mines Management Inc. Announces Completion of Objection and ...
8/17/201510-Q for Mines Management, Inc.
7/8/2015Mines Management, Inc. Receives Notice from NYSE MKT
7/8/201510:03 am Mines Management receives a letter from the NYSE, i...
6/18/2015Mines Management Inc. Announces Voting Results of Annual Gen...
5/19/201510-Q for Mines Management, Inc.
4/7/2015Mines Management Inc. Reports 2014 Financial Results and Mon...
3/30/2015Mines Management Final Environmental Impact Statement Comple...
3/30/2015Mines Management Inc. Final Environmental Impact Statement C...
3/30/2015FINAL ENVIRONMENTAL IMPACT STATEMENT COMPLETED FOR MONTANORE...
2/25/2014AMENDED Mines Management, Inc. Press Release - PR 14-01
2/25/2014PR 14-01
11/28/2013PR 13-07 Revised
9/3/2013PR 13-06
6/15/2013PR 13-05
6/3/2013PR 13-04
5/7/2013PR 13-03
4/25/2013PR 13-02
3/22/2013Message - PR 13-01
4/10/2012Message - PR 12-03
9/8/20112011 Silver Summit Luncheon
8/19/2010Message - PR 10-06
5/3/2010World Moneyshow Las Vegas 2010 Conference Booth# 420
1/25/2010World Moneyshow Orlando 2010 Conference Booth# 813
11/17/2009Withdraws public offering of shares
11/12/2009ANNOUNCES COMMON STOCK OFFERING
8/11/2009To Host Silver Summit Lucheon
6/22/2009Shareholders approve stockholder rights plan
1/30/2009EXTENDS WARRANT EXPIRATION
5/28/2008ANNOUNCES 1ST QUARTER RESULTS
3/3/2008 STATE OF MONTANA CONFIRMS MONTANORE PROJECT'S 1993 OPERATIN...
9/7/20072007 FALL CONFERENCE SCHEDULE
5/9/2007ANNOUNCES EXCERCISE OF OVER-ALLOTMENT OPTION
4/20/2007Successful Closing of US$30 Million Unit Offering
3/26/2007Announces 2006 results
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