Marshall Helmberger
ELY In a wide-ranging press conference last week, representatives of the Campaign to Save the Boundary Waters outlined their plans to block the proposed Twin Metals copper-nickel mine and achieve permanent protection from sulfide mining on 234,000 acres of the Rainy River watershed located upstream of the BWCAW.
Using a strategy that combines political advocacy and lobbying, building coalitions with the business community and outdoor enthusiasts, and litigation where necessary, the campaign has laid the groundwork to advance their objectives under a new administration and Congress that appears friendlier to environmental protection and sustainable economics than was the case for the past four years.
The royalties had been held by a subsidiary of a mineral drilling company. 11:03 am, Dec. 13, 2020 ×
A Vancouver-based company bought royalties in November for a portion of the proposed Twin Metals copper-nickel mine.
Twin Metals is proposing an underground copper-nickel mine, processing facility and tailings storage facility just outside Ely and the Boundary Waters Canoe Area and Wilderness.
Nova Royalty Corp. purchased a 2.4% net smelter return on approximately 18% of the resources at Twin Metals Maturi and Maturi Southwest deposits from a subsidiary of Boart Longyear, a mineral drilling company.
Nova paid $2 million in cash and shares and will make additional payments up to $4 million in cash and shares if federal and state permits are awarded and if production begins.