Twin Metals Minnesota
A major partner has given up the right to take a bigger stake in a proposed copper-nickel mine near Ely in northeastern Minnesota. Chilean-based mining company Antofagasta PLC said Thursday it has terminated its option to buy another 25 percent of Twin Metals Minnesota. The announcement says Toronto-based Duluth Metals Ltd. is now assuming control of the joint venture.
The company planning a copper-nickel mine near Ely has boosted its estimates of how much metal it’s sitting on.