Article: Babbitt, Minn., Precious Metals Mine Clears Feasibility Hurdle.

By Peter Passi, Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News

Jul. 21--Plans for a precious-metals mine near Babbitt passed "a major milestone" this week, said Buck Andrews, chief financial officer for PolyMet Mining Corp.

Andrews was referring to a favorable prefeasibility study conducted by Independent Mining Consultants Inc. The firm concluded that a plan to glean copper, nickel, palladium, platinum, gold and zinc from ore near Babbitt showed enough promise to warrant more investigation.

That investigation won't come cheap, however. So far, about $5.5 million has gone into studying the project, dubbed NorthMet, Andrews ...

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