Jon Cherry


PolyMet Mining




Toronto-based PolyMet’s reason for being is nonferrous mining in the Duluth Complex—a geological region near the Iron Range reportedly loaded with platinum, copper and other precious metals. At press time, PolyMet had just received an environmental impact statement from the Minnesota DNR which the company believes will lead to permits to begin mining. But the project may be stalled by legal roadblocks, including a lawsuit by American Indian bands concerned about the effect of “sulfide mining” (opponents’ preferred term) on wild rice lakes. Jon Cherry is facing other challenges: a soft market for copper—probably temporary—and a major investor (Switzerland’s Glencore) that has been struggling financially.