Did You Know?
PolyMet's Permit to Mine requires that there will always be sufficient funds available to the Minnesota DNR for two main activities: reclaiming the project site after closure, as well as monitoring and maintaining the site to comply with the permit. These financial assurance requirements are mandated by the Minnesota Administrative Rules Chapter 6132, governing nonferrous mining operations, and Minnesota Statutes Chapter 93, governing mineral lands. We must submit updated closure reclamation and corrective action plans each year as part of our annual report to the Minnesota DNR.
Regulatory requirements
Financial assurance is strictly regulated by Minnesota law, which requires financial assurance provided to the Minnesota DNR meet five rigorous criteria:
Funds must be sufficient to cover the costs estimates in the closure reclamation plan and any corrective action plan.
Funds must always be available to the Minnesota DNR.
Funds must be fully valid, binding and enforceable under state and federal law.
Funds must not be dischargeable through bankruptcy.
Plans must be approved by the Minnesota DNR commissioner.
Closure reclamation
The closure reclamation plan must include plans, cost estimates and financial assurance for the following types of activities:
Remediation, including the investigation and cleanup of contamination from past mining operations
Reclamation, including the stabilization and re-vegetation of land surface
Relocation of stock piles
Structure removal
Monitoring and maintenance
Administration and project management