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Antofagasta to proceed with plans for Minnesota mine

Dec. 26, 2017 1:13 PM ETAntofagasta plc (ANFGF) StockANFGF, ANFGYBy: Carl Surran, SA News Editor
  • Chile´s Antofagasta (OTC:ANFGF, OTCPK:ANFGY) said over the weekend that it will move ahead with permitting for a copper-nickel mine in Minnesota after the Trump administration overturned an Obama-era decision to protect a nearby wilderness area.
  • The U.S. Department of Interior had refused to renew mineral leases owned by Antofagasta subsidiary Twin Metals in Minnesota, citing potential environmental damage to nearby protected areas, but has reversed course.
  • The company says it hopes to produce 20K tons/day of mineralized ore from the site to extract “metals of strategic importance to the U.S. economy and national defense.”

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