TECK - Minnesota's top court rules against PolyMet mine says officials hid EPA warnings
2023-08-03 11:55:20 ET
The Minnesota Supreme Court ruled Wednesday that the state's Pollution Control Agency improperly granted permits to the NewRange Copper Nickel project and concealed environmental concerns about the project.
The court found that state regulators not only ignored concerns from the U.S. Environmental Protection Agency about the mine, but attempted to conceal EPA warnings from the public.
The court's unanimous ruling is the latest roadblock for the long-sought project, a 50-50 joint venture with PolyMet Mining ( NYSE: PLM ) and Teck Resources ( NYSE: TECK ) which seeks to be Minnesota's first copper-nickel mine.
The U.S. Army Corps of Engineers in June revoked a critical water quality permit for the project, saying the permit did not comply with water quality standards set by the Fond du Lac Band of Lake Superior Chippewa, whose reservation on the St. Louis River is downstream from the mine.
More on PolyMet Mining:
- Financial and valuation comparison to sector peers
- Analysis: PolyMet Mining: Things To Consider before Jumping On The Bandwagon
- Stock price return: Down 18% YTD, down 28% in the past 12 months
For further details see:
Minnesota's top court rules against PolyMet mine, says officials hid EPA warnings