Base MetalsInvesting News

The board of directors of PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company"), re-elected Jon Cherry its chairman following the Annual General and Special Meeting of Shareholders in Vancouver, British Columbia and re-appointed Al Hodnik lead independent director.

In the annual meeting, which also was held virtually at www.virtualshareholdermeeting.com/PLM2021, 86.16% of the eligible shares were represented and all motions put forward by the company were passed.

The number of directors of the company was fixed at seven and the following persons were elected as directors of the company to hold office until the next annual general meeting. The voting results are shown below:

DirectorVotes For% ForVotes Withheld% Withheld
Jonathan Cherry75,470,87699.06%711,0730.94%
David Dreisinger75,658,84199.31%523,1080.69%
David J. Fermo75,992,61299.75%189,3370.25%
Alan R. Hodnik75,635,60099.28%546,3490.72%
Roberto Huby75,931,13799.67%250,8120.33%
Nathan Bullock75,949,37099.69%232,5790.31%
Stephen Rowland75,609,49099.24%572,4590.76%

 

Deloitte & Touche LLP was re-appointed as auditors of the company and the board is authorized to fix the remuneration to be paid to the auditors.

PolyMet shareholders further re-approved the Omnibus Share Compensation Plan, as approved by shareholders in 2007, amended and restated and confirmed from time to time, most recently by shareholders in 2018.

Following the meeting, Mr. Cherry gave a presentation on achievements of the past year and goals for the future. Key achievements include:

  • A continuing strong safety and environmental record that included an injury-free workplace in 2021 and complete compliance with the terms of PolyMet's environmental permits;
  • Business continuity in spite of pandemic-related restrictions and no work-related illnesses;
  • Favorable rulings by the Minnesota Supreme Court after the company petitioned the Court to review two lower court rulings. One of those cases regarded the Permit to Mine and dam safety permits, and the other, the air permit. Of the many questions decided by the court in both cases, PolyMet and state agencies prevailed in the vast majority of them, including the key legal issues in both cases;
  • Successful defense of six of the 11 state and federal cases that have been brought against the project. The remaining five cases are in various stages of litigation or appeal, but are for the most part well advanced in the process; and,
  • Continued environmental compliance with the conditions of PolyMet permits.

Mr. Cherry said key objectives for the months ahead include:

  • Successful defense of outstanding cases challenging PolyMet permits, including a court-ordered contested case hearing related to the effectiveness of bentonite clay capping for eventual closure of NorthMet's tailings basin, and a potential hearing by the Army Corps of Engineers related to the state's water quality certification as it relates to our federal wetlands permit;
  • Continued engineering and optimization of the project; and,
  • Continued compliance of environmental permits.

"NorthMet will provide the metals that are critical to global carbon reduction efforts, and those solutions start with the build-out of clean energy technologies such as wind turbines, solar arrays and electric vehicles," Mr. Cherry told shareholders. "We remain committed to building the project as a modern and safe mining operation that generates the jobs and economic benefits we have promised, and returns value to our shareholders and the communities where we operate."

About PolyMet

PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to be permitted within the Duluth Complex in northeastern Minnesota, one of the world's major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium - metals vital to global carbon reduction efforts - in addition to marketable reserves of cobalt, platinum and gold. When operational, NorthMet will become one of the leading producers of nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined source of these critical and essential metals.

Located in the Mesabi Iron Range, the project will provide economic diversity while leveraging the region's established supplier network and skilled workforce, and generate a level of activity that will have a significant effect in the local economy. For more information: www.polymetmining.com.

For further information, please contact:

Media
Bruce Richardson, Corporate Communications
Tel: +1 (651) 389-4111
brichardson@polymetmining.com

Investor Relations
Tony Gikas, Investor Relations
Tel: +1 (651) 389-4110
investorrelations@polymetmining.com

PolyMet Disclosures

This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.

PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.

Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2020, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.

The Annual Report on Form 40-F also contains the company's mineral resource and other data as required under National Instrument 43-101.

No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

* * * * *


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87827

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Polymet MiningPOM:CAPLMCopper Investing

Lundin Mining Reports Contractor Fatality at Neves-Corvo Mine

TSX: LUN ) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is saddened to report a fatality at its Neves-Corvo mine in Portugal late in the evening local time Friday, September 30, 2022 . In an isolated incident underground, the employee of a materials handling contractor was fatally injured while operating a piece of mobile equipment.

"It is with deep sadness that we report the tragic loss of a contractor colleague. Our thoughts are with the family, friends and our Neves-Corvo team at this difficult time. The safety of our employees and contractors remains our top priority," said Peter Rockandel , President and CEO of Lundin Mining.

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Lundin Mining Announces Updated Share Capital and Voting Rights

Lundin Mining Logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

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Turquoise Hill Announces Receipt of Interim Order for Proposed Arrangement with Rio Tinto and Provides Details of Shareholders' Meeting

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") is pleased to announce that the Supreme Court of Yukon (the "Court") has granted an interim order (the "Interim Order") in connection with the previously announced statutory plan of arrangement under section 195 of the Business Corporations Act (Yukon), pursuant to which, among other things and subject to the satisfaction or waiver of all applicable conditions precedent, Rio Tinto International Holdings Limited ("Rio Tinto") will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own (the "Minority Shares") for C$43.00 per share in cash (the "Arrangement"). The Interim Order authorizes the calling and holding of a special meeting (the "Special Meeting") of the Company's shareholders, the granting of dissent rights to registered shareholders and other matters relating to the conduct of the Special Meeting.

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Ero Copper announces discovery of nickel sulphide system in the Curaçá Valley; intercepts 16.5 meters grading 1.22% nickel, including 3.8 meters grading 3.60% nickel

Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce the discovery of a regional nickel sulphide system within the Curaçá Valley over an initial strike length of five kilometers. The system remains open in all directions and is highlighted by multiple surface expressions of nickel mineralization. Results from first-pass drilling conducted on two of the identified zones along the currently interpreted northeast and southwest boundaries of the system are highlighted by:

  • VB Zone
    • VB-17: 16.5 meters at 1.22% Ni, 0.17% Cu and 0.03% Co (1.37% NiEq), including 3.8 meters at 3.60% Ni, 0.22% Cu and 0.09% Co (3.92% NiEq)
      • Interval includes 1.5 meters of massive-sulphide textures (~80% sulphides) grading 6.59% Ni, 0.26% Cu and 0.17% Co (7.11% NiEq)
    • VB-25: 30.4 meters at 0.63% Ni, 0.12% Cu, 0.02% Co (0.72% NiEq), including 5.1 meters at 2.06% Ni, 0.25% Cu, 0.05% Co (2.28% NiEq)
      • Interval includes 1.4 meters of massive-sulphide textures (~60% sulphides) grading 4.94% Ni, 0.14% Cu, 0.12% Co (5.30% NiEq)
  • Lazaro ("LZ") Zone
    • LZ-03: 24.1 meters at 0.81% Ni, 0.18% Cu and 0.04% Co (0.97% NiEq), including 13.0 meters at 1.11% Ni, 0.25% Cu and 0.05% Co (1.33% NiEq)
    • LZ-06: 22.5 meters at 0.84% Ni, 0.15% Cu and 0.05% Co (1.02% NiEq), including 8.0 meters at 1.34% Ni, 0.25% Cu and 0.07% Co (1.61% NiEq)
    • LZ-07: 17.7 meters at 0.93% Ni, 0.21% Cu and 0.05% Co (1.14% NiEq), including 5.0 meters at 1.15% Ni, 0.20% Cu and 0.06% Co (1.38% NiEq)

The newly discovered nickel system, known as the "Umburana System", is located approximately 20 kilometers from the Company's existing Caraíba processing facilities. The system was discovered using new detailed field mapping and soil geochemistry collected during the Company's 2021 and 2022 exploration programs in conjunction with the Company's airborne electromagnetic ("AEM") survey. First-pass drilling comprised of 48 drill holes initially testing where ultramafic rocks have been mapped at surface. The ongoing program has identified large intervals of disseminated and interstitial nickel sulphides as well as zones of high-grade semi-massive (containing approximately 30% to 60% sulphides) and massive sulphides (containing approximately 60% to 80% sulphides), with massive sulphide intercepts up to 1.5 meters in thickness grading up to 6.59% nickel (7.11% NiEq). Nickel mineralization outcrops at surface, is evident in trenches and remains open down-plunge. Maximum depth of drilling to date is approximately 300 meters below surface. There are four exploration drill rigs currently operating on the system.

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American West Metals

New Copper System Confirmed At The Storm Project, Canada

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to report that initial assay results from drill hole ST22-10 have confirmed a significant discovery at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

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VIDEO: Cyprium Metals Ltd MD Barry Cahill on the Nifty Copper Project Restart Update

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) has continued to progress the refurbishment of the project whilst the Company is conducting a finance process for the restart the operation.

HIGHLIGHTS

- Majority of the operational readiness and environmental clean-up activities have now been completed

- To reduce operational expenditure whilst maintaining the Nifty site in good order, workforce has been temporarily downsized until the finance process is complete

- Advanced discussions are continuing with debt financiers, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"The finance process to fund the Restart of the Nifty Copper Project continues with multiple parties.To conserve funds, we have reduced personnel throughout the organisation until we complete the financing and commence the refurbishment schedule in earnest.

Our personnel have done an excellent job in getting Cyprium to the go line for when the finance process is completed and progress to date has been remarkable, as can be seen in the photos. Many people have told me that they would like to return to Nifty, if they are available, to build the roject and plate copper. We look forward to welcoming them back to the Cyprium family."

To watch the Video, please visit:
https://www.abnnewswire.net/press/en/114080/cym



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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