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Mining in Minnesota. Commissioner Tony Sertich April 17, 2012 2012 SME – Minnesota Section Conference. Over 120 Years of Mining in Minnesota 85 th Annual Meeting of the SME Minnesota Section 73 rd Annual University of Minnesota Mining Symposium. Mining in Minnesota Over 120 Years.
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Mining in Minnesota Commissioner Tony Sertich April 17, 2012 2012 SME – Minnesota Section Conference
Over 120 Years of Mining in Minnesota 85th Annual Meeting of the SME Minnesota Section 73rd Annual University of Minnesota Mining Symposium
History of iron ore productionNatural ore followed by taconite
Annual Economic Impact of Mining $3.1 billion Resource: Labovitz School of Business and Economics, Bureau of Business and Economic Research 2007 - The Economic Impact of Ferrous and Non‐Ferrous Mining on the State of Minnesota, and on the Arrowhead Region and Douglas County, WI
Mining Employment & Wages 4,215 Employees (Direct) 13,000 Employees (Spinoff) $100,000 Average Wage & Benefits
2011 Mining Impacts – state • Production tax $79,138,000 • Royalty payments $34,274,039 • School Trust Royalty Income $20,969,968 • University Trust Royalty Income $12,526,491 • Tax Forfeit Royalty Income $388,927
Our future neighbors Cardero Iron Ore Duluth Metals – Twin Metals Encampment Minerals Kennecott Exploration Lehmann Exploration Minerals Processing Corp PolyMet Prime Meridian Resources Teck Vermillion Gold Western Metals
Dayton Administration Accomplishments • Executive Orders were issued to evaluate, recommend improvements and expedite state environmental review and permitting processes. • Permitting agencies are publishing efficiency reports. • Mining Subcabinet created to ensure mining projects are on-track, timely and coordinated. • Mining Coordinator Position established to serve as a first point of contact for mining projects. • 2012 Legislative Session. Implemented additional permitting reforms, as well as a pilot program for an alternative form of environmental review.
Commissioner Tony Sertich T.Sertich@state.mn.us Thank You