December 20, 2017 07:16 AM
According to the Star Tribune, Polymet Mining would have to put up $1 billion to protect taxpayers from environmental risks associated with its proposed copper nickel mine in Hoyt Lakes.
The Star Tribune got that number through a data practices request. It's three times as much as Polymet has proposed it would need to spend about a year ago.
State regulators put together the estimate, and it's the first time the risk has been tagged with a dollar amount.
Mining advocates and Polymet say with modern technology and engineering, copper nickel mining can be done safely.
Last week, Polymet submitted financial assurance of $544 million as an insurance policy to protect taxpayers.
Created: December 20, 2017 07:16 AM
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