On February 14, 2023, PolyMet Mining Corp. (“PolyMet”) completed a transaction with Teck Resources Limited (“Teck”) forming a new joint venture, NewRange Copper Nickel LLC (“NewRange Copper Nickel”).
PolyMet, a mine development company that is publicly traded on both the Toronto Stock Exchange and NYSE American, owns the NorthMet deposit in northern Minnesota. Teck, which publicly trades on both the Toronto Stock Exchange and NYSE, owns the nearby Mesaba deposit. Under the terms of the transaction, the NorthMet and Mesaba are placed under single management with PolyMet and Teck each receiving a 50% interest in NewRange Copper Nickel.
PolyMet was represented by a Farris transaction team led by Denise Nawata that also included Ryan McCracken.
For a copy of the press release, click here.