The U.S. Interior Department on Thursday blocked mining in part of northeast Minnesota for 20 years, the latest blow to Antofagasta's ( OTC:ANFGF ) Twin Metals copper and nickel mining project, a step officials said was needed to protect the state's network of interconnected waterways.
Secretary of the Interior Deb Haaland signed an order withdrawing 225K acres in the Superior National Forest from leasing to mining or geothermal companies through 2043.
If built, the underground Twin Metals mine would be a major U.S. source of copper and nickel, two metals crucial for the green energy transition.
In August 2022, Antofagasta ( OTC:ANFGF ) sued the Biden administration in an attempt to revive the proposed mine, which had been blocked over concerns it could pollute a major recreational waterway .
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U.S. curbs mining in Minnesota, hitting Antofagasta's Twin Metals project