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Financial Assurance

Financial Assurance

EOR's mining Technical Advisory Team (TAT) worked with the Minnesota DNR's Lands & Minerals Division to complete a detailed evaluation of the PolyMet Mining Corp's proposed NorthMet copper-nickel mine. EOR's work focused on preparing permit language and conditions that protected the state's resources. Our team consisted of national experts in mine, geotechnical, and water resources engineering; hydrogeology; geochemistry; and environmental sciences. As part of the permitting process, EOR collaborated with multiple other state agencies to address interrelated issues involved with the permit and mining practices. This permit is Minnesota's first mining permit in a sulfide ore body and per EOR’s guidance resulted in a $1B financial assurance package to operate the mine. 

Client Benefits

  • Team of leading leaders in mining and financial management managed locally.
  • Developed customized, easy-to-update, cost estimation tools; comment tracking tools; and financial documentation.
  • Developed customized statistical methods to continually assess and evaluate Financial Assurance risks to the state of Minnesota.
  • Aggressive Financial Assurance calculations resulted mining practices and permit conditions that more effective protect the environment and natural resources.

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