Deadline Approaching for Chippewa and State's Mineral Leases

Former Essar Steel Minnesota site in 2015. Former Essar Steel Minnesota site in 2015. |  Photo: WDIO

September 29, 2017 04:40 PM

We are one day away from the deadline for Tom Clarke and Chippewa Capital Partners to have their financing in place, to finish the half-built mine at the former Essar site.

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Saturday was the agreed upon day, when the parties OK'd a 30-day extension at the end of August.

Governor Mark Dayton, the DNR and Itasca County were among the parties involved. The extension has to do with the state's mineral leases.

According to the statement from the governor in August, if financing was not in place, the mineral leases would revert back to the state. Those leases are key to the project's success.

We will keep you updated as soon we hear from the Governor's office or Tom Clarke.


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