Legislature Mulls PolyMet Assurances

Minnesota state legislators will soon consider bills which could raise the level of financial assurances required by PolyMet Mining Company in order to operate its proposed NorthMet copper-nickel mining operation near Babbitt, MN.

The Duluth News-Tribune published THIS story on the matter yesterday.

According to the piece, company officials are concerned that the measures could delay opening of the $600-million project. They say current Minnesota law adequately assures against potential pollution costs.

Supporters of the bills, which would raise the amount of upfront money set aside to mitigate potential environmental damage, say the legislation may be necessary to insure that Minnesota isn’t left with a large clean-up bill, should the company eventually go bankrupt.

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