Iron Range Resources And Rehabilitation Board
The Iron Range Resources and Rehabilitation Board has approved a plan to protect a trust fund from potential raids by state government. The IRRRB is funded by a taconite production tax paid by mining companies in lieu of local property taxes.
Minnesota’s taconite plants will get a smaller tax rebate than they were expecting.
The Iron Range Resources and Rehabilitation Board has voted to lend $4 million to PolyMet Mining Corp., which plans to develop a copper-nickel mine in northeastern Minnesota.