Let’s boil it down, shall we?
When fully operational, PolyMet will employ around 360 mining and business professionals, ranging from engineers and shovel operators to accountants and information technology specialists. These will be full-time, stable positions, giving local workers the opportunity to improve the economy of Iron Range communities
by mining the essential metals we use every day.
PolyMet project by the numbers:
- Two million construction hours – the same amount of time that went into building Target Field
- 360 full-time mining jobs in operations
- 600+ related jobs
- $720 million in wages and benefits
The project will bring much-needed investment to help revitalize Northeastern Minnesota communities and produce a significant, long-term economic lift for the entire state.
The proposed 20-year project will create an estimated:
- $10.3 billion in economic benefit to St. Louis County (location of PolyMet project)
- $300 million in new local and state tax revenues ($15 million annually), providing funds for every school district in Minnesota
- $900 million in new federal tax revenues ($45 million annually)
To put it in perspective, the Super Bowl creates an estimated $550 million in economic impact to the host city. The PolyMet project will generate approximately the same impact in St. Louis County – annually for 20 years.
PolyMet will provide copper, nickel, cobalt, platinum, palladium and gold. These metals are used in everything from cell phones and computers to diabetes test strips and medical devices. They are also essential to developing a green economy, including wind turbines, hybrid and electric cars and pollution-scrubbing catalytic converters.
In fact, without these metals you wouldn’t have a computer, phone or tablet to read this blog post.
PolyMet Mining is committed to mining in a way that protects the environment. We will:
- Use modern technology and operating practices, including advanced water collection and treatment systems so that the water we discharge is compliant with regulations and swimmable and fishable.
- Revitalize and reuse the former LTV plant, equipment, roads and other assets that were built in the 1950s and idled in 2001, and which at one time employed a peak of about 1,400 workers. Refurbishing the mill and associated infrastructure is effectively Minnesota’s largest recycling project and will once again put people to work.
- Leave the plant site cleaner than it is today by addressing legacy water issues from the former mining operations that require long-term treatment whether we mine or not.
- Restore and protect more wetlands than we impact.
- Incorporate mine closure and reclamation plans and bankruptcy-proof financial guarantees before operations begin. These will be updated annually.
Mining in Minnesota’s Iron Range has sustained tens of thousands of families, dozens of communities, schools, commerce and recreation centers, and more. It has allowed children to attend universities and technical schools and to establish careers and families.
The PolyMet project would diversify the region’s mining-based economy. Someday, it could even rival the iron industry’s billions of dollars added to the regional and state economy.
How will moving Minnesota mining forward benefit you? Share with us in the comments below.