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Wednesday, August 27, 2008

Duluth Mining plans $916M project; could add 1,000 jobs

Minneapolis / St. Paul Business Journal - by Carissa Wyant Staff Writer

A Toronto based mining company plans to build a $916 million project in the Ely area, the company said.

The project would make Duluth Metals, which trades on the Toronto stock exchange under the ticker DM and has an office in Oakdale, the second company to produce copper and nickel in the area.

Canadian mining firm PolyMet Mining Corp. also expects to break ground in 2009 on an open pit mine near the area.

Duluth Metals wants to process 20,000 metric tons a day of ore containing copper, nickel, platinum, palladium and gold from its Nokomis deposit in Minnesota’s Duluth complex. Production could start as early as 2012. It could create up to 1,000 new jobs, CEO Henry Sandri said in an interview.


cwyant@bizjournals.com | (612) 288-2108

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