Blog

One of World’s Largest Copper, Nickel Deposits Found in Minnesota

 

Last month Duluth Metals announced that a proposed mine near Ely, Minnesota contains one of the largest deposits of copper, nickel, platinum and palladium outside of South Africa. Christopher Dundas, CEO and Chairman of Duluth Metals estimated the value of these minerals at over $100 billion and projected that it could produce 80,000 tons per day. While the project is still in its research phase – managing group Twin Metals said that it would expect to invest around $2 billion dollars and create hundreds of jobs in the area.

Minnesota’s reliance on manufacturing and mining jobs meant that the state was hard hit by the recent economic downturn. News of such a potentially productive mine and large future investment is welcome to many in the area:

Frank Ongaro, executive director of the industry group Mining Minnesota, said the announcement “puts an exclamation point” on how companies keep finding more and more minerals in northeastern Minnesota. “That adds up to more economic benefit, more jobs for a longer period of time,” he said.

States like Minnesota – where they innovate, mine and manufacture all in the same area – are examples of why we need to push to work together. We need to make sure that we are connecting the dots between developing these resources and getting a paycheck in a pocket.