Ely copper deposit estimate doubles
June 13, 2012 at 7:00 pm in Duluth News Tribune
Already reported as the world’s largest untapped deposit of copper, the Twin Metals mine exploration area near Ely contains even more copper, nickel, platinum and other valuable metals than previously estimated, the mine’s parent company said Wednesday.
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I love the random grammar. Thank you for the laugh.
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You know, I’d be tempted to register a “republicant” account just so that I could imitate such drivel, but the true ones do such a good job that I think they have it covered.
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Hurray hurray hurray! Dig dig dig! Mine mine mine! Who cares if the BWCA is poisoned forever
as long as you can upgrade your smartphones ipods ebooks and laptops every year?
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“could employ more than 1,000 people”
Nothing more needs to be said.
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A Chilean company is at the forefront in this industry. That is because mining is an industry developing countries are good at. Selling their natural resources.
The US should be beyond this. Everyone wants a four year college degree (the highest rate of such degrees in the world) while we get passed by other countries in high tech manufacturing. We need technicians and engineers. We should be taking a small amount of our vast resources and turning it into something expensive. That will support our standard of living. Our resources will last much longer this way.
Digging up stuff and selling it by the ton for others to make money with makes the US seem a little backward.
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LOTS more needs to be said.
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This mining opportunity may not be perfect, but it’s pretty darn good. I see two options:
1. Open up the area to mining and generate economic activity (yes, I realize all the money won’t stay in Minnesota).
2. Protect The Earth for the hikers that are so frugal they steal saltines from the cafes in Ely.
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I am a hiker, but sadly not that sure of where all my money goes. I know I spend a lot on gear! And expensive beer! And big tips for the bartender!
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Keyword: could. Prove it.
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So you believe that bs?
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Rude Crude Greedy value systems on display. Unacceptable.
A little tip? What some like to call tree hugging environmentalists are in reality fun loving hard working survivalist.
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This is fantastic news! I wish they could start drilling/blasting today.
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Why is everyone so eager to start blasting and digging?
idknow2012 thinks 1,000 jobs is automatically a good thing. Is it? Are they high paying jobs? Are they going to be filled by people from the region, or is it going to be a Northwestern North Dakota scenario where thousands of out of state workers pile in creating all sorts of issues in the community?
My biggest question. WHY are these AMERICAN RESOURCES owned by Canadian and Chilean companies!?
These resources are in American/Minnesotan soil and it should be American companies making AND keeping that profit here.
If our environment is going to be compromised, if our resources are going to be exploited, at the very least it should be Americans who reap the profits.
Ridiculous.
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3 thumbs down = 3 thumbs up for shipping profits and resources directly out of Minnesota and the US.
But hey… JOBS!
Personally, I think we’d get just a bit more leverage out of those jobs if they were provided by a US/Minnesota company aiming to keep the profits in our region… Anything else and we’re letting resources go for a cut rate.
Not very fiscally sound.
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Yes it would be nice if US Corporations were investing in the US, but their not. And they leave their capitol overseas which won’t come back or be taxed. Look at Apple, one of the worst. So I guess we have to pray for foreign investors to come in.
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what goes your rant have to do with anything …white cristian male greed equated with the DFL?? LMAO i can see the gears grinding inside your head right now….. When one of these mining companies actually pays for the cleanup costs associated with their destruction of the environment in pursuit of profitable natural resources (they all make their profits get their bonuses and then go bankrupt) then maybe i will be gung ho about letting them mine with no debate.
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It’s a Canadian based company because the NYSE doesn’t trade in junior exploration companies. They teamed up with a Chilean company because they have the $$$ and experience to get a project like this done. Don’t forget that all resources extracted will be taxed by the state and the feds, and millions of dollars from this will go into the state’s permanent school trust fund.
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Right up to the point where they will pull out an leave a gigantic toxic mess for you and I to clean up. There is no such thing as environmentally clean copper mining. If the mining companies are asking to ease any environmental protections, that is a neon flashing omen.
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Don’t believe everything the mining industry spins.
“Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: The above definitions include the terms “measured mineral resource” and “indicated mineral resource”. We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves.
Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: The above definitions include the term “inferred mineral resource”. We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility or other economic study. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists or is economically or legally mineable.”
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I think its time to Occupy Kawishiwi. If that mine, or any of the others that will be proposed in coming year in that area become reality it will be a travesty and a disaster to anyone who doesn’t eat and breathe greed.
I’ve recently had a conspiracy theory dawn on me, namely: The straightening of Hwy 1 has actually been done to accommodate Big Mining, and all the trucks to haul ore out of the area. Not bad, huh?
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Actually, I do occupy the Kawishiwi. The deposit is directly under my cabin. How do you think we feel?
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Rich. If you own the mineral rights under your land.
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Maybe you don’t know this NO INDIVIDUAL CAN PROFIT FROM MINERALS FOUND UNDER THEIR LAND because the mineral rights have all been stripped out and retained by the state. We own the surface rights but the BLM and mining companies can come in and do pretty much anything they want to do unless the public says something. When it comes time for public comment, research, question and comment PLEASE. The mining companies will do what they want, environment be damned, if we don’t stay vigilant.
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And the BLM is so rife with corporatism and pandering to oil, gas, coal and now copper, they can hardly see the animals and citizens through the greed. They are all about and only about their corporate masters.
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Some of us were saying that when the road was straightened – there were roads with just as many, if not more, fatalities throughout the state that were not ‘improved’. I listened to folks thanking their Lake County commissioners and thought they were sure naive to think they were the reason.
So here’s another piece for your conspiracy. In 2001, State Master Agreement, Asset Purchase, LTV Cliffs Erie [CE], concerning the Dunka Mine area, “At the conclusion of this (5) year period, the DNR will meet with CE and RRTH [Rainy River Energy Corporation – Taconite Harbor] to discuss the status of non-ferrous metallic mining projects in this area and ways to mitigate any development plans that would interfere with non-ferrous metallic minerals mining.”
It is blatant double talk from an industry that pretends to care about jobs for folks in northern Minnesota, when it is clear they only care about jobs that will benefit the corporation. In fact they are willing to sabotage any others.
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