The mining industry in Minnesota is set to gain from Trump’s inauguration, which will trigger policy shifts that’ll allow Twin Metals to renew efforts to mine precious minerals like nickel and copper in ecologically sensitive land.
Twin Metals is a Minnesota mining firm focused on developing and operating an underground mine project in the northeast region of the state. For years now, this mining firm has tried to create and operate a copper sulfide mine on Superior National Forest Land.
In 2022, the firm sued the federal government in an effort to revive the proposed mine which it claimed would be a major source of nickel and copper for the U.S. as the transition to green energy continues. When the Biden administration came into power, Twin Metals’ leases were cancelled, with the administration also placing a two-decade moratorium on underground mining on the land in question.
This moratorium will be reversed when Trump is officially inaugurated, as he vowed to do after he was sworn in.
Twin Metals isn’t going to be only firm benefitting from these changes either. Talon Metals Corp, a mineral exploration firm, may also benefit as it navigates the permit process to construct a nickel mine roughly 50 miles west of Duluth.
Talon has already obtained grants from the Departments of Defense and Energy to pursue its objective, making it easier for the firm to meet the demand for nickel, a critical mineral needed for EV battery production. Already, the firm is party to an agreement to supply Tesla with over 160 million pounds of nickel.
The NewRange Copper Nickel project, a 50-50 joint venture between Tech Resources and Glencore, also proposed the construction of a billion-dollar open pit mine. This project, which requires both state and federal permits to progress, has been plagued by regulatory and legal obstacles.
With an administration that’s more mining-friendly coming in, the mine may see its fortunes turn around. Bruce Richardson, the spokesman for NewRange, revealed that the company planned to apply for a Clean Water Act wetlands permit again.
The Executive director of Friends of the Boundary Waters, Chris Knopf, has expressed concern that the Trump administration will reissue this permit, despite the fact that the Army Corps of Engineers revoked it due to concerns that the mine would violate water quality standards. While it is difficult to predict how the conflict between environmental advocates and mining interests will unfold, the shift in political trends is bound to revive debate and legal battles.
As these stalled mining projects await the decision of the incoming administration in Washington, D.C., other entities like Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) are also advancing nickel mine projects that could bolster the supply of this vital metal within the North American region.
NOTE TO INVESTORS: The latest news and updates relating to Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) are available in the company’s newsroom at https://ibn.fm/FNICF
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