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Article: Babbitt, Minn., Precious Metals Mine Clears Feasibility Hurdle.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 21, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...