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State Regulators: Polymet Needs $1 Billion for Environmental Risks

State regulators say Polymet would need $1 billion to protect taxpayers from environmental risks. State regulators say Polymet would need $1 billion to protect taxpayers from environmental risks. |  Photo: WDIO

Baihly Warfield
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. 

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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.


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Baihly Warfield

Copyright 2017 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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