HOYT LAKES, MN — It all started in 2004, when PolyMet began the initial environmental review.
We then move to April of 2016, when the state initiated the company to begin the permitting process, which included air, water, and dam safety permits.
Then, in November of 2016, PolyMet submitted its Permit to Mine application to the Minnesota DNR.
Since then, there have been public comments, an application review, and the completion of the Permit to Mine application.
Even with Thursday’s developments, there’s still a long process ahead for PolyMet.
Company spokespeople estimate the cost to construct the mine at $945 million.
PolyMet’s most recent financial report from June, showed the company had roughly $18 million on hand.
With the DNR permits granted, officials say they can now pursue that needed financing more aggressively.
PolyMet wants to have shovels in the ground in the spring of 2019, with a 24-30 month construction timeline.