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News
News
Nokomis project gets $130 million infusion
07/21/2010
FOX 21 News
June 21, 2010
TORONTO - A South American company is providing a $130 million cash infusion into a proposed Northland precious metals mine.
On Wednesday, Toronto-based Duluth Metals signed an agreement with Chile-based Antofagasta PLC for the Nokomis Mining Project. The new joint venture is called Twin Metals Minnesota.
The companies hope to mine copper, nickel, platinum, palladium, and gold at a site south of Ely.
Duluth Metals expects to ramp up work on feasibility studies over the next two to three years.
