Teck to form JV with PolyMet to develop copper, nickel and platinum group metals projects in Minnesota kitconews gold silver economics finance metals investing mining
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The company said that the joint venture will be named NewRange Copper Nickel LLC, adding that Glencore will retain its majority equity interest in PolyMet and provide financial support for its share of the funding commitment to the joint venture. The NorthMet project is expected to produce 29,000 tonnes of ore per day over a 20-year permitted mine life, with first production targeted for 2026. Over its first full five years of operations, NorthMet is expected to deliver annual payable production of 30,000 tonnes of copper, 3,600 tonnes of nickel, 58,000 ounces of palladium, and 12,000 ounces of platinum.
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