PolyMet announces venture agreement with Teck Resources

A new partnership for PolyMet. The company announced a joint venture agreement with Teck Resources, one of Canada’s leading mining companies.

Together, they will become equal owners in NewRange Copper Nickel LLC. The name pays homage to the location of the resource and the rich mining heritage of the region, along with the new modern methods of responsible mining.

PolyMet is planning to mine near Babbitt, and process the minerals at the old LTV site in Hoyt Lakes.

The company has been working through litigation on three of their nearly two dozen permits.

Teck has control of one of the world’s largest undeveloped copper nickel deposits in the Duluth Complex as well, and calls it the Mesaba Project.

This is a developing story.