PolyMet, Teck Resources announce joint venture agreement

Polymet has announced a joint venture agreement with Teck Resources, one of Canada’s leading mining companies.

Hubbard Broadcasting affiliate WDIO-TV reports that together, they will become equal owners in NewRange Copper Nickel, LLC.

WDIO reports 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 former 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.