EPA review faults permitting for proposed Minnesota mine

Thursday, April 22, 2021 | The Associated Press


In this Feb. 10, 2016, file photo is a former iron ore processing plant near Hoyt Lakes, Minn., that would become part of a proposed PolyMet copper-nickel mine. An internal investigation has found that the Environmental Protection Agency mishandled its oversight of permits for what would be Minnesota's first copper-nickel mine, according to the federal agency's inspector general.The findings describe a flawed review of two permits issued for the $1 billion mine that PolyMet Mining Corp. wants to build near lakes Babbitt and Hoyt. (AP Photo/Jim Mone, File)

MINNEAPOLIS (AP) — An internal investigation has found that the Environmental Protection Agency mishandled its oversight of permits for what would be Minnesota’s first copper-nickel mine, according to the federal agency's inspector general.

The findings describe a flawed review of two permits issued for the $1 billion mine that PolyMet Mining Corp. wants to build near Babbitt and Hoyt Lakes, which are about 200 miles (320 kilometers) northeast of Minneapolis, in northeastern Minnesota.

The latest development adds more uncertainty to the stalled mine project. Many of the permits issued so far have been stayed or are under review.

According to the report, the EPA’s Region 5 office in Chicago, which oversees Minnesota’s enforcement of federal pollution laws, violated standard operating procedure when it didn’t write out its concerns about the water permit in a letter to the state, the Star Tribune reported.

Instead, the EPA went over the list by phone with staff of the Minnesota Pollution Control Agency and the concerns went unresolved. The MPCA issued the permit in late 2018.

The EPA office also ignored three formal requests by the Fond du Lac Band of Lake Superior Chippewa for notice of the potential impact the polluted copper mine discharge would have on downstream water quality, as federal law requires. The tribe lives on the St. Louis River downstream from the proposed mine site.

The inspector general recommended that the EPA’s Chicago office provide written input of the water pollution permits and commit to determining downstream impacts.

Following the release of the latest EPA report, environmentalists called on Minnesota regulators to revoke the mine’s water pollution permit.

“This report confirms that the PolyMet water permit was rushed and the public was kept in the dark by its own (regulators) about EPA staff concerns, resulting in a weak permit that endangers people downstream,” said Elise Larson, an attorney with the Minnesota Center for Environmental Advocacy.

___

This story was corrected to reflect that the proposed mine would be near Babbitt and Hoyt Lakes. It had erroneously referred to the two communities as lakes.

Featured Article: What is the Quick Ratio?



7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the "7 Stocks That Cathie Wood is Buying And You Should Too".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.