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1) Teck and PolyMet have launched a new joint venture, called NewRange Copper Nickel, with the goal to supply the necessary critical minerals for the clean energy transition across the continent. This new joint venture is planning on becoming the second nickel producer in the US. NewRange holds 2 metal deposits, NorthMet and Mesaba, which contain copper, nickel, cobalt, and platinum group metals in northeastern Minnesota. NorthMet contains a measured and indicated resources of 637 million tons with an additional 400 million tons of inferred, while Mesaba contains another 2 billion tons of measured and indicated resources and about 1.3 billion tons of inferred. NorthMet will produce 29,000 tons of ore over a 20 year mine life with production slated to start in 2026. Over the first 5 years of its production, NorthMet is expected to produce 30,000 tons of copper, 3,600 tons of nickel, 58,000 ounces of palladium, and 12,000 ounces of platinum. Glencore is also committed to backing this new joint venture. Tannice McCoy, the general manager of NewRange says that “NewRange Copper Nickel has potential to be a modern, multi-generational operation that will support North America’s acceleration to a carbon-neutral future, build a better quality of life for people, and diversify and create significant economic benefits for northern Minnesota and beyond."
2) Freeport-McMoRan said that the Copper Mark has been awarded to PT Freeport Indonesia, which rounds out all 12 sites that have achieved the Copper Mark for the company. The Copper Mark is an award that demonstrates the copper producers responsible copper production. Freeport also announced that its primary molybdenum mines have been awarded the Molybdenum Mark, also making the company the first primary molybdenum miner to achieve this milestone. Outside the company's primary molybdenum mines, Freeport's four copper mines that produce molybdenum as a byproduct (Morenci, Baghdad, Cerro Verde, and Sierrita) have also been awarded the Molybdenum Mark. “To achieve the Copper Mark and Molybdenum Mark each site is required to complete a robust, independent external assurance process to assess conformance with 32 environmental, social and governance requirements,” the company said.