Antofagasta Reviews Twin Metals Minnesota Mining Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Twin Metals Minnesota LLC, a subsidiary of Antofagasta plc (London, England), is conducting a review and performing optimization studies for an underground copper-nickel-PGM mine and concentrator project near Ely, Minnesota. The project has been under study since 2006, when it was known as the Birch Lake Project.

The project includes an underground mine, concentrator and tailings storage facility. In an earlier iteration of the project, previous owner Duluth Metals Limited studied the addition of a hydrometallurgical processing plant utilizing the PLATSOL process, but that option is not part of Antofagasta's current plans. Antofagasta was a 40% joint-venture partner with Duluth Metals on the Twin Metals project, until it acquired 100% of Duluth Metals earlier this year.

The review and optimization studies are based on a prefeasibility study completed in 2014.

According to Twin Metals, a formal mine proposal, environmental review, and state and federal permitting are still several years out. Based on the results of a prefeasibility study concluded last year, the Twin Metals project will be a significant economic benefit to Minnesota, including hundreds of construction jobs, permanent mining jobs, regional economic impact, and $2 billion to $3 billion in pre-operation capital investment.

Antofagasta is in final commissioning of the new Antucoya Copper mine in Chile. The $1.9 billion project began construction in 2013.

Antofagasta also operates the Los Pelambres, Centinela and Michilla mines in Chile.

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