Polymet Mining

PolyMet Mining Corp. engages in the exploration and development of natural resource properties. It develops and operates the NorthMet project in Minnesota, which hosts copper, nickel, cobalt, and platinum group metal mineralization. The company was founded by John P. McGoran on March 4, 1981 and is headquartered in St. Paul, MN.

Earnings data Q4 2020

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PolyMet Mining Corp. is a publicly-traded mine development company focused on permitting, building and operating the NorthMet copper-nickel-precious metals project through its wholly owned subsidiary, Poly Met Mining, Inc., a Minnesota corporation.  Our corporate office is in Toronto, Ont. our executive office is in St. Paul, Minn., and our operation headquarters is in Hoyt Lakes, Minn. Through long-term mineral leases, we control the NorthMet copper-nickel-precious-metals ore body. The ore body is located near the Mesabi Iron Range, northeastern Minnesota’s well-established 100-mile-long mining district.

Glencore PLC

BAAR, Switzerland, Nov. 07, 2023 (GLOBE NEWSWIRE) -- On November 7, 2023, Glencore AG, a wholly-owned subsidiary of Glencore plc (together “Glencore”) acquired all of the issued and outstanding common shares (“Common Shares”) of PolyMet Mining Corp. (“PolyMet”), other than those Common Shares currently held by Glencore. The acquisition was effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”).

Glencore Acquires Full Ownership of PolyMet Mining Corp.

St. Paul, Minnesota--(Newsfile Corp. - November 7, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") announces that it has completed the transactions contemplated by the previously announced statutory plan of arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the "Arrangement") involving the Company and Glencore AG ("Glencore"). Pursuant to the Arrangement, Glencore acquired the approximately 17.82% of the issued and outstanding common shares of PolyMet that Glencore did not already own (the "Minority Shares") for US$2.11 in cash, per Minority Share.

Glencore Completes Acquisition of PolyMet

St. Paul, Minnesota--(Newsfile Corp. - November 3, 2023) -  PolyMet Mining Corp. ("PolyMet" or the "Company") (TSX: POM) (NYSE American: PLM) announces that the Supreme Court of British Columbia has granted the final order in connection with the previously announced statutory plan of arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the "Arrangement") involving the Company and Glencore AG ("Glencore"). Pursuant to the Arrangement, Glencore will acquire the approximately 17.82% of the issued and outstanding common shares of PolyMet that Glencore did not already own (the "Minority Shares") for US$2.11 in cash, per Minority Share.

PolyMet Receives Final Order for Arrangement with Glencore

St. Paul, Minnesota--(Newsfile Corp. - November 1, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") announces that shareholders of PolyMet approved the previously announced plan of arrangement (the "Arrangement") with Glencore AG ("Glencore") at a special meeting (the "Meeting") of PolyMet shareholders ("Shareholders") held earlier today. At the Meeting, Shareholders voted to approve the acquisition by Glencore of all of the issued and outstanding common shares of the Company ("Common Shares") that Glencore does not currently own (the "Minority Shares") for US$2.11 in cash per Minority Share (the "Consideration").

PolyMet Shareholders Approve Plan of Arrangement with Glencore

PolyMet's Unconflicted Board of Directors recommends Minority Shareholders vote FOR the Arrangement Both leading independent proxy advisors, ISS and Glass Lewis, recommend shareholders vote in favor of the transaction Shareholders are encouraged to vote in advance of the proxy deadline on October 30, 2023, at 12:00 p.m. (Eastern Time) Shareholders who have questions or need assistance with voting their shares can contact Laurel Hill Advisory Group at 1-877-452-7184 or by e-mail at assistance@laurelhill.com St. Paul, Minnesota--(Newsfile Corp. - October 27, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") is reminding shareholders to vote FOR the plan of arrangement (the "Arrangement") with Glencore AG ("Glencore") whereby, among other things, Glencore will acquire the approximately 17.8% of the issued and outstanding common shares of PolyMet that Glencore does not currently own (the "Minority Shares") in exchange for US$2.11 per share.

PolyMet Shareholders to Vote on Arrangement with Glencore

ISS finds "significant premium of 167%", consideration of alternatives, and the risks of non-approval as its basis for supporting the all-cash transaction Glass Lewis cites the certainty and liquidity of cash, safeguarding of minority shareholder interests, and compelling premium as rationale for its endorsement Shareholders are encouraged to vote well in advance of the proxy deadline on October 30, 2023, at 12:00 p.m. (Eastern Time) St. Paul, Minnesota--(Newsfile Corp. - October 16, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") is pleased to announce that both leading independent proxy advisors, Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have recommended PolyMet shareholders vote FOR the plan of arrangement (the "Arrangement") with Glencore AG ("Glencore") whereby, among other things, Glencore will acquire the approximately 17.8% of the issued and outstanding common shares of PolyMet that Glencore does not currently own (the "Minority Shares").

ISS and Glass Lewis Recommend Polymet Mining Shareholders Vote FOR the Arrangement with Glencore

Unanimous support from the Board of Directors to acquire the remaining approximately 17.8% A 167% premium to the day prior to the offer For any shareholder inquiries and voting support contact Laurel Hill Advisory Group North American Toll Free: 1-877-452-7184 (or 416-304-0211 for shareholders outside North America) Email: assistance@laurelhill.com St. Paul, Minnesota--(Newsfile Corp. - October 2, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") announced today the filing of PolyMet's Management Information Circular (the "Circular") and associated meeting materials (collectively, the "Meeting Materials") in connection with the previously announced statutory plan of arrangement (the "Arrangement") which provides, among other things, that Glencore AG ("Glencore") will acquire the approximately 17.8% of the issued and outstanding common shares of PolyMet that Glencore does not currently own (the "Minority Shares") for US$2.11 in cash per share (the "Consideration"). Board of Directors' Recommendations and Rationale for Arrangement The Board of Directors of the Company (the "Board") (excluding conflicted directors), unanimously determined that the Arrangement is in the best interests of the Company and fair to the holders of Minority Shares and recommends that the holders of Minority Shares (the "Minority Shareholders") vote in favor of the resolution relating to the Arrangement at the Special Meeting of Shareholders.

PolyMet files Management Information Circular to consider the US$2.11 per share Glencore proposal

St. Paul, Minnesota--(Newsfile Corp. - September 28, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "Company") announced today that the Supreme Court of British Columbia (the "Court") has granted an interim order (the "Interim Order") in connection with the previously announced statutory plan of arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia), pursuant to which, among other things and subject to the satisfaction or waiver of all applicable conditions precedent, Glencore AG ("Glencore") will acquire the approximately 17.8% of the issued and outstanding common shares of the Company that Glencore does not currently own (the "Minority Shares") for US$2.11 in cash per share, subject to approval by PolyMet shareholders, final Court approval and other customary closing conditions (the "Arrangement"). The Interim Order authorizes the calling and holding of a special meeting (the "Special Meeting") of the Company's shareholders.

PolyMet Receives Interim Order for Proposed Arrangement with Glencore and Provides Details of Shareholders' Meeting

St. Paul, Minnesota--(Newsfile Corp. - August 10, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company"), today reports its financial results for the three and six months ended June 30, 2023. The company experienced three significant events during the period: Completed an offering of rights to shareholders of common shares of the company raising approximately $195M in gross proceeds (the "Rights Offering") to repay outstanding debt, fund PolyMet's share of the work program associated with the NewRange Copper Nickel joint venture and certain other corporate activities.

PolyMet Mining reports results for period ended June 30, 2023

St. Paul, Minnesota--(Newsfile Corp. - August 2, 2023) - Poly Met Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") announced that the Minnesota Supreme Court, in a decision released today, sent NewRange Copper Nickel's water discharge permit for the NorthMet project back to the Minnesota Pollution Control Agency for further clarification and documentation. NewRange responded in its own news release today that it "looks forward to working with the respective state, federal and tribal agencies to address the court's ruling," expressing confidence that the additional proceedings will "confirm the project protects water quality.

NorthMet Water Discharge Permit remanded to MPCA for additional review

(Kitco News) - PolyMet said the consideration represents a 167% premium to the unaffected share price on June 30, 2023.

Glencore to acquire full ownership in PolyMet Mining

Polymet Mining Corp (TSX:POM) has accepted Glencore PLC (LSE:GLEN)'s proposal to purchase the remaining 18% stake in the company for approximately $73 million, according to reports on Monday. The offer from Glencore, which amounted to $2.11 per share in cash, caused PolyMet's stock to more than double earlier in July.

PolyMet Mining accepts Glencore's $73M proposal for remaining stake

PolyMet Mining Corp. POM, +3.86% PLM, +3.54% said Monday it agreed to a buyout price of $2.11 per share from Glencore AG after a review of the offer by an independent special committee of its board of directors. Glencore is buying the 17.8% of PolyMet stock is does not own.

Polymet to sell remaining stake to Glencore for $2.11 per share

Transaction provides Minority Shareholders with all-cash consideration of US$2.11 per share and represents a 167% premium to the unaffected closing price on June 30, 2023 Special meeting of shareholders expected to be held at the end of the third quarter of 2023 or early in the fourth quarter of 2023 St. Paul, Minnesota--(Newsfile Corp. - July 17, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") announced today that, based on the unanimous recommendation of an independent special committee of its board of directors (the "Special Committee"), it has entered into a definitive agreement (the "Agreement") with Glencore AG ("Glencore"), in respect of a transaction whereby Glencore will acquire the approximately 17.8% of the issued and outstanding common shares of the company that Glencore does not currently own (the "Minority Shares") for US$2.11 in cash per share (the "Consideration"), subject to approval by PolyMet shareholders, court approval and other customary closing conditions (the "Transaction"). The Transaction has several benefits for shareholders of PolyMet other than Glencore (the "Minority Shareholders") including: Significant Premium: The Consideration represents a 167% premium to the unaffected share price on June 30, 2023, being the last trading day prior to the announcement of Glencore's non-binding proposal to acquire PolyMet.

PolyMet Enters into Definitive Agreement for Glencore to Acquire Full Ownership

(Kitco News) - On Monday, PolyMet Mining (TSX: POM) (NYSE: PLM) announced that it received a non-binding proposal from Glencore to acquire all outstanding shares of PolyMet that it does not already own for cash consideration of US$2.11 per share.

PolyMet receives non-binding proposal from Glencore to go private

US mining company Polymet Mining Corp (TSX:POM) saw its stock continue to climb on Tuesday after Swiss commodities giant Glencore PLC (LSE:GLEN) announced its intention to acquire full ownership of the copper miner. Glencore already holds an 82% stake in PolyMet and offered approximately $71 million to raise its ownership to 100% -- effectively taking it private.

PolyMet Mining shares continue to soar after Glencore's $71M offer

St. Paul, Minnesota--(Newsfile Corp. - July 3, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") announced today that its independent Special Committee (the "Special Committee") of PolyMet's Board of Directors received a non-binding proposal from Glencore AG ("Glencore") to acquire all outstanding shares of PolyMet that it does not already own for cash consideration of US$2.11 per share, subject to certain conditions, including the entering into of a definitive agreement. The purchase price per share proposed by Glencore represents an approximately 167% premium over the price of US$0.79 per share at the close of business Friday, June 30, 2023.

PolyMet Receives Non-Binding Proposal to Go Private

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES BAAR, Switzerland, July 03, 2023 (GLOBE NEWSWIRE) -- On June 30, 2023, Glencore AG, a wholly-owned subsidiary of Glencore plc (together “Glencore”) submitted a non-binding proposal to the board of directors of PolyMet Mining Corp. (“PolyMet”) to acquire all of the outstanding common shares of PolyMet (“Common Shares”), other than those shares currently held by Glencore (the “Proposal”). Under the Proposal, each Common Share would be acquired for consideration of US$2.11 in cash, which is at par with the recent Rights Offering done by PolyMet in April 2023.

Glencore Submits Non-Binding Acquisition Proposal to PolyMet Board

St. Paul, Minnesota--(Newsfile Corp. - June 14, 2023) - The board of directors of PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") re-elected Jon Cherry its chairman following the Annual General Meeting of Shareholders held in Vancouver, British Columbia, and re-appointed Al Hodnik lead independent director. At the Annual General Meeting of Shareholders, which also was held virtually at www.virtualshareholdermeeting.com/PLM2023, 90.75% of the eligible shares were represented and all motions put forward by the company were passed.

PolyMet Releases Voting Results of Annual Shareholder Meeting

St. Paul, Minnesota--(Newsfile Corp. - June 6, 2023) - Poly Met Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company"), shares the following statement issued today by NewRange Copper Nickel LLC ("NewRange") regarding the revocation of NorthMet's Clean Water Act section 404 permit by the U.S. Army Corps of Engineers: "Today's decision by the U.S. Army Corps of Engineers is reversal of thoroughly reviewed water quality data that has been collected and assessed over the last decade. The planned NorthMet Project development is protective of water, air and other resources and can produce copper, nickel and platinum group metals (PGM) in a responsible and sustainable manner.

PolyMet reacts to Corps of Engineers decision on NorthMet section 404 permit

St. Paul, Minnesota--(Newsfile Corp. - May 30, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company"), announces its NewRange Copper Nickel joint venture ("NewRange") has commenced work at NorthMet to ready the site for construction when the clean energy minerals project is approved. Estimated to cost US$18M, the work program focuses on preparing the plant site for construction by removing and salvaging steel and other material from the pre-existing concentrator building.

PolyMet Announces Site Readiness Initiative For NorthMet Project

St. Paul, Minnesota--(Newsfile Corp. - May 11, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") today reports its financial results for the period ended March 31, 2023 and provides a business update. The company achieved three major milestones during the period: Closed on the joint venture agreement (the "Joint Venture") with Teck Resources Limited ("Teck").

PolyMet Mining reports results for period ended March 31, 2023

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St. Paul, Minnesota--(Newsfile Corp. - April 10, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") announces the successful completion of its rights offering, which expired at 5:00 p.m. (Toronto time) on April 4, 2023.

PolyMet closes successful rights offering

St. Paul, Minnesota--(Newsfile Corp. - April 5, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") today announced preliminary results that indicate successful conclusion of its approximately US$195 million rights offering following the expiration of the subscription period, at 5:00 p.m. (Toronto time) on April 4, 2023.

News for Polymet Mining Stock (PLM)