The mining company Twin Metals, which is developing a mine proposal just outside the Boundary Waters Canoe Area Wilderness, recently increased the estimated size of the mineral deposit it controls. The Star Tribune‘s Josephine Marcotty reports:
The company that controls mining rights to 32,000 acres on the doorstep of the Boundary Waters Canoe Area said Tuesday that the land contains 19 percent more copper, gold and palladium than it previously estimated, making Minnesota home to one of the world’s largest deposits of precious metals.
“These are not minor mineral holdings,” said Bob McFarlin, vice president for government and public affairs for Twin Metals, a partner in the planned project, which released the results of the new geological analysis. “The state is sitting on an absolute economic juggernaut for generations to come.”
Twin Metals, a joint venture between Duluth Metals, a Canadian company, and Antofagasta PLC of Chile, one of the largest international mine operators, is proposing an underground mine and processing plant that would be one of the world’s largest.
The 13.7 billion pounds of copper the company estimates are contained in the deposit is a significant amount. By comparison, the controversial Pebble Mine in Alaska’s Bristol Bay contains about 80 billion pounds of copper.